Date | Description | Post Ref. | Debit | Credit | Assets | Liabilities | Equity | |
a.(1) | Sep 30 | Work in Process - Refining Department | 371,000 | ↑ | ||||
Materials | 371,000 | ↓ | ||||||
a.(2) | Sep 30 | Work in Process - Refining Department | 142,000 | ↑ | ||||
Wages Payable | 142,000 | ↑ | ||||||
a.(3) | Sep 30 | Work in Process - Refining Department | 98,400 | ↑ | ||||
Factory Overhead - Refining Department | 98,400 | ↑ | ||||||
b. | Sep 30 | Work in Process - Sifting Department | 612,200 | ↑ | ||||
Work in Process - Refining Department | 612,200 | ↓ | ||||||
(29,200 + 371,000 + 142,000 + 98,400 - 28,400) | ||||||||
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments- Refining, Sifting,...
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 $385,000, $143,000, and $99,000, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,600, and work in process at the end of the period totaled $29,800. Required: a. (1) On September 30, journalize the entry to record...
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 $360,000, $147,000, and $96,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,000, and work in process at the end of the period totaled $28,200. Required: a. (1) On September 30, journalize the entry to record...
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 $360,000, $147,000, and $96,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,000, and work in process at the end of the period totaled $28,200. Required: a. (1) On September 30, journalize the entry to record...
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 $386,000, $145,000, and $98,800, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,600, and work in process at the end of the period totaled $28,400. Required: a. (1) On September 30, journalize the entry to record...
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 $386,000, $145,000, and $98,800, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,600, and work in process at the end of the period totaled $28,400. Required: a. (1) On September 30, journalize the entry to...
Can I get some help on this? 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 $371,000, $142,000, and $98,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29, 200, and work in process at the end of the period totaled $28,400. Required: a....
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $210,000, and total direct labor costs would be $150,000. During February, the actual direct labor cost totaled $12,000, and factory overhead cost incurred totaled $17,100 Required: a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February 28....
Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods $8,300 Work in Process-Spinning Department 2,000 Work in Process-Tufting Department 2,600 Materials 4,800 Departmental accounts are maintained for...
White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sifting Department was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 × $2.25) $1,575 Conversion (700 × 3/5 × $0.30) 126 $1,701 The following costs...
White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sifting Department was as follows on July 1: Work in Process-Sifting Department (700 units, 3/5 completed): Direct materials (700 × $2.35) $1,645 Conversion (700 × 3/5 × $0.30) 126 $1,771 The following costs...