Pr. Contactaris duct. Vitadrink through two monttirocesses Magandang Almere stered at the beginning of each process on O
Posted: Sat Feb 19, 2022 2:31 pm
Journalize the October transactions ist all debit entries before credit etrlet Ondit account titles are automatically indented when amount I entered Do notIndent manually) No. Account Titles and Explanation Debit Credit 1. 2 5.
5 I 6. 2 8. 9. (To record the sale) (To record the cost of goods sold)
Pharoah Company manufactures its product. Vitadrink, through two manufacturing processes: Moving and Packaging All materials are entered at the beginning of each process. On October 1, 2022. inventories consisted of Raw Materials S29,120. Work in Process- Mixing $0. Work in Process -Packaging $280.000, and Finished Goods $323.680. The beginning inventory for Packaging consisted of 11.200 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 56,000 units were started into production in the Mixing Department and the following transactions were completed 1. Purchased $336,000 ot raw materials on account. 2. Issued direct materials for production Mixing $285,200 and Packaging $50,400 Incurred loborcosts of $312.368. (Use Wages Payable) 4. Used factory labor. Mixing $204.400 and Packaging $107.968, 5 incurred $907,200 of manufacturing overhead on account 6 Applied manufacturing overhead on the basis of S23 per machine hour. Machine hours were 31360 in Mixing and 6.720 in Packaging 7. Transferred 50,400 units from Mixing to Packaging at a cost of $1,096,480. Completed and transferred 59,360 units from Packaging to Finished Goods at a cost of $1472.800. 3 B 9. Sold goods costing $1.796,480 for $2,800,000 on account
No. Account Titles and Explanation Debit Credit 2. 3.
5. 6. 1 7. 8. 9. (To record the sale)