Process costing Journal Entry: The Geneve Chocolate company is located in French Speaking Switzerland. The company makes truffles that are sold in propular embossed tins. The company has 2 processing departments-Cooking and Molding. In the cooking Department the raw ingredients for the truffles are mixed and cooked on special candy making vats. In the molding Department the melted chocolate and other ingredients from the cooking department are carefully poured into molds and decorative flourishes are applied by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the follow of costs through the two departments in April (all amounts are in swiss francs)

Prepare journal entries showing the flow of costs through the two processing departments duringApril.

Transcribed Image Text:

Work in Process-Cooking Balance 41 Direct Materials Direct Labors Overhead 6000 42000 50000 75000 Transferred out 160000 Work in Process-Molding Balance 4/1 Transferred in Direct Labors Overhead 4000 160000 36000 45000 Transferred out 240000