Question

Ch 20 Ex Entries for Flow of Factory Costs for Pr Cost System -Refining, sifting, and Packing. Assume that records indicate that the first department, Refining, were $457,600, $160,200, and $105,200, respectively. Also, work in process in the Sweeties, Inc., manufactures a sugar product by a continuous process, involving three direct materials, direct and Refining Department at the beginning of the period totaled $25,600, and work in a. Journalize the entries to record the flow of costs into the process at the end of the period totaled $31,600 Refining Department during the period for (1) direct materials, (2) direct labor, and (a) factory overhead Proe Refining Department Department 2. Department 3. b. Journalize the entry to record the transfer of production costs to the second department, Sifting

Each picture is it’s own small assignment, that is is part of one assignment.

Answer 1

Q1.
Journal entries
Accounts title and explanations				Debit	Credit
Work in process- Refining Dr.				457600
Raw material Inv					457600
Work in process- Refining Dr.				160200
Wages payable					160200
Work in process- Refining Dr.				105200
factory overheads-Refining					105200
Work in process- Sifting Dr.				717,000
Work in process-Refining Account					717000
Note: Cost of goods completeed andn transfrred to next deptt:
Beginning wip			25600
Add: Current cost
material			457600
labour			160200
Overheads			105200
Total cost of manufacture			748600
Less: Ending WIP			31600
Total cost of goods transferred			717000