Entries for Flow of Factory Costs for Process Cost System
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments—Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $1,250,000, $660,000, and $975,000, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $328,000, and work in process at the end of the period totaled $295,000.
a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank.
1. | Work in Process-Refining Department | ||
Materials | |||
2. | Work in Process-Refining Department | ||
Wages Payable | |||
3. | Work in Process-Refining Department | ||
Factory Overhead-Refining Department |
Feedback
Remember that in this department both materials and conversion costs are being added to the units before they are transferred out.
b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.
Work in Process-Sifting Department | |||
Work in Process-Refining Department |
a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank.
1. | Work in Process-Refining Department | 1250000 | |
Materials | 1250000 | ||
2. | Work in Process-Refining Department | 660000 | |
Wages Payable | 660000 | ||
3. | Work in Process-Refining Department | 975000 | |
Factory Overhead-Refining Department | 975000 |
Feedback
Remember that in this department both materials and conversion costs are being added to the units before they are transferred out.
b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.
Work in Process-Sifting Department | 2918000 | ||
Work in Process-Refining Department | 2918000 | ||
Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product...
Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments—Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $1,250,000, $660,000, and $975,000, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $328,000, and work in process at the end of the period totaled $295,000. a....
Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments—Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $285,500, $99,900, and $65,700, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $16,000, and work in process at the end of the period totaled $19,700. a....
Entries for Flow of Factory Costs for Process Cost System Radford Inc, manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $458,200, $160,400, and $105,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $25,700, and work in process at the end of the period totaled $31,600. a....
Entries for Flow of Factory Costs for Process Cost System Calculator Radford Inc, manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $401,600, $140,600, and $92,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $22,500, and work in process at the end of the period totaled $27,700....
H3 HOMEWORK Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments- Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $430,700, $150,700, and $99, 100, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $24,100, and work in process at the end of the...
Entries for Flow of Factory Costs for Process Cost System Radford Inc, manufactures a sugar product by a continuous process, involving three production departments --Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $496,900, $173,900, and $114,300, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $27,800, and work in process at the end of the period totaled $34,300....
Entries for Flow of Factory Costs for Process Cost System Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $419,100, $146,700, and $96,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $23,500, and work in process at the end of the period totaled $28,900. a....
Entries for Flow of Factory Costs for Process Cost System Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments—Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $621,500, $217,500, and $142,900, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $34,800, and work in process at the end of the period totaled $42,900. a....
Entries for Flow of Factory Costs for Process Cost System Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $536,500, $187,800, and $123,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $30,000, and work in process at the end of the period totaled $37,000. a....
Entries for flow of factory costs for process cost system Instructions Chart of Accounts Journal Instructions Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $388,000, $141,000, and $96,800, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,800, and work in process at the end...