Journal Entries in Process Costing Systems
McGoun Corporation uses a process costing system for its two production departments: Mixing and Packaging. The company provided the following manufacturing cost information for the month of May:
| Mixing | Packaging |
Beginning work in process | $ 800 | $ 700 |
Costs transferred in | ? | ? |
Costs incurred in May | 4,200 | 6,000 |
Ending work in process | 1,500 | $2,300 |
a. Record the transfer of costs from the Mixing Department to the Packaging Department in May.
b. Record the transfer of costs from the Packaging Department to Finished Goods Inventory in May.
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