80.Process costing system-journal entries Joyce Industries uses a process costing system. All of the company's manufacturing activities take place in a single processing department. There was no beginning inventory in May. During the month, $60,000 of materials were added and $40,000 of labor and $75,000 of overhead costs were charged to work in process. The entire work in process inventory of 20,000 units was completed and transferred to finished goods. Of these 20,000 units, 15,000 were sold on account at $14 per unit. In the space provided, prepare a general journal entry to summarize each of the following categories of transactions for the month of May (you may omit explanations): (a.) The recording of manufacturing costs applied to production (use a single journal entry). (b.) The transfer of completed units from work in process to the finished goods warehouse. (c.) The sale of 15,000 units manufactured during the month and the related cost of goods sold.

 81.Equivalent units In the first month of operations, the manufacturing costs for Blue Sun Company were as follows:  During the month 10,000 units were completed, and 5,000 units were in process at the end of the month. The 5,000 units in process were 100% completed as to materials and 80% completed as to direct labor and overhead.

 Compute the following: 

(a) Direct materials cost per equivalent unit: $________________

 (b) Equivalent full units of production for direct labor and manufacturing overhead: ________________

 (c) Direct labor cost per equivalent unit: $_________________ 

(d) Manufacturing overhead cost per equivalent unit: $_________________

 (e) Total cost of 10,000 units completed: $_________________ 

(f) Total cost of 5,000 units in process at the end of the month: $_________________