1. Journal entries: Croc-ade, Inc. is a sports drink manufacturer that uses a process costing system. The firm makes its sports drinks in two sequential processes: Mixing and Bottling. Prepare journal entries to record the following information:

1. Raw Materials During the current period, the firm purchased $112,000 in raw materials on account. The firm used $68,500 in direct materials in its Mixing department and $24,750 in direct materials in its Bottling department. The firm also used used $7,120 as indirect materials during the period (HINT: there are 3 separate journal entries to record for materials).
2. Labor - During the current period, the firm incurred $51,600 in direct labor costs in its Mixing department and $10,480 in direct labor costs in its Bottling department. The firm also incurred $13,440 in indirect labor costs during the period (HINT1: there are 2 separate journal entries to record for labor; HINT2: credit the Factory Wages Payable account).
3. Factory OH applied Assume that factory OH costs are applied at 160% of direct labor costs according to the firms predetermined OH rate. Record the journal entry for overhead applied during the period.

2. Process Costing Equivalent units of production, Weighted Average Method: Runaground Coffee Co. is a coffee manufacturer who uses process costing to account for its production costs each period. The Runaground uses two departments in the production of its product Drying and Roasting. The following is information obtained for the Drying department for the month of January:

Work in process (WIP) inventory Drying department, beginning balance:

Units in beginning WIP: 135,000

DM costs in beginning WIP: $101,425

Conversion Costs in beginning WIP: $67,850

Units started / costs incurred during January (Drying Department only):

Units started: 215,000

DM costs incurred: $173,675

Conversion Costs incurred: $99,350

At the end of January, as of January 31^st, there were 95,000 units left in the Drying departments ending WIP inventory. These partially completed units were 90% complete with respect to DM and 60% complete with respect to Conversion Costs. Use the Weighted-Average method to answer the questions below.

1. Calculate how many units were completed and transferred out to the Roasting Department during January.

2. Calculate the Equivalent Units of Production (EUP) for January for both DM and Conversion Costs for the Drying department.

3. Calculate the cost per EUP for January for the Drying department for both DM and Conversion Costs. Round your final answer to two decimal places.

4. Assign costs to the units completed and transferred out of the Drying Department to the Roasting Department during January.

5. Assign costs to the units remaining in the Drying Departments ending WIP inventory as of January 31^st.

3. Process Costing Balance Sheet accounts, ending balances: Frozen Britain, Corp. makes ice cream sandwiches in sequential processes, mixing and freezing. It uses process costing to account for production costs during each period. The following is information obtained from the source documents for Frozen Britain for the month of December:

Raw materials purchased (direct and indirect)	$145,860
Raw materials inventory (direct and indirect), beginning balance	$23,750
Direct materials used Mixing Department	$71,440
Direct materials used Freezing Department	$17,615
Direct labor used Mixing Department	$56,280
Direct labor used Freezing Department	$28,400
Applied Overhead Mixing Department (@80% of department DL costs)	$45,024
Applied Overhead Freezing Department (@80% of department DL costs)	$22,720
Indirect materials used	$7,115
Indirect labor used	$29,335
Other Factory overhead costs Actual (e.g. factory rent, factory utilities)	$31,200
Work in process (WIP) inventory, beginning balance Mixing Department	$91,460
Work in process (WIP) inventory, beginning balance Freezing Department	$119,025
Costs assigned to units completed and transferred out of Mixing Department to the Freezing Department	$182,450
Finished goods inventory, beginning balance	$153,295
Costs assigned to units completed and transferred out of Freezing Department to Finished Goods	$263,860
Cost of goods sold	$340,935
Sales	$629,070

Using all of the information given above, determine the December 31^st ending balances of each the firms inventory accounts listed (you must show all of your work, either using formulas/calculations or T-accounts):

1. Raw Materials Inventory

2. WIP InventoryMixing department

3. WIP InventoryFreezing department

4. Finished Goods Inventory