Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging....

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Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging. During August,

CHART OF ACCOUNTS Pleni Company General Ledger ASSETS REVENUE 410 Sales 110 Cash 120 Accounts Receivable 130 Raw Materials EX

LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Utilities Payable 240 Lease Payable 250 Other Payables EQUITY 310 Comm

2. Prepare journal entries on Aug. 31 that reflect these cost transfers. Refer to the Chart of Accounts for the exact wording

business accounting

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Answer 1

Answer #1

Ans:

1a
Costs transferred out of the Mixing Department=412500+60000+75000= $547500
b
Costs transferred out of the Cooking Department=547500+187500+37500+41250= $813750
c
Costs transferred out of the Packaging Department=813750+165000+90000+116250= $1185000

2
31-Aug	Work in Process-Cooking	547500
	Work in Process-Mixing		547500

31-Aug	Work in Process-Packaging	813750
	Work in Process-Cooking		813750

31-Aug	Finished Goods	1185000
	Work in Process-Packaging		1185000

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Answer 2

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Pleni Company produces 18-ounce boxes of a wheat cereal in three departments: Mixing, Cooking, and Packaging....

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