Recording Manufacturing Costs in Process Costing
Jambo Company produces homemade jam. The company has two sequential production departments, Cooking and Canning. The fruit is washed and cooked in the Cooking department and then transferred to Canning to be packaged in glass jars. From Canning, the jars are transferred to Finished Goods Inventory and then are sold.
Jambo has compiled the following information for the month of May:
| Cooking | Canning |
Beginning work in process | $ 0 | $ 8,350 |
Materials | 3,500 | 2,000 |
Labor | 4,000 | 3,100 |
Overhead | 9,300 | 7,900 |
Costs transferred out | 14,900 | 21,250 |
Required:
Prepare the following journal entries for Jambo:
1.Amount of direct materials, direct labor, and manufacturing overhead incurred for the Cooking department.
2. Transfer of products from Cooking to Canning.
3. Amount of direct materials, direct labor, and manufacturing overhead incurred by the Canning department.
4. Transfer of jam from Canning to Finished Goods.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.