Homework Answers
Prepare journal entries as follows:
| Event | General Journal | Debit | Credit |
| 1 | Raw material inventory | $25,000 | |
| Accounts payable | $25,000 | ||
| 2 | Work in process-Blending | $18,930 | |
| Work in process-Packaging | $9,140 | ||
| Raw material inventory | $28,070 | ||
| 3 | Factory wages | $23,770 | |
| Cash | $23,770 | ||
| 4 | Work in process-Blending | $13,320 | |
| Work in process-Packaging | $10,450 | ||
| Factory wages | $23,770 | ||
| 5 | Manufacturing overheads | $41,500 | |
| Accounts payable | $41,500 | ||
| 6 | Work in process-Blending | $22,500 | |
| Work in process-Packaging | $7,500 | ||
| Manufacturing overhead | $30,000 | ||
| 7 | Work in process-packaging | $44,940 | |
| Work in process-Blending | $44,940 | ||
| 8 | Finished goods inventory | $67,490 | |
| Work in process-packaging | $67,490 | ||
| 9 | Accounts receivable | $90,000 | |
| Sales revenue | $90,000 | ||
| Cost of goods sold | $62,000 | ||
| Finished goods inventory | $62,000 |
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fully complete as to materials. During October, 53,900 units were
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