Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone solve this Pls? Sharma Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of the year, there were no work-in-process

can someone solve this Pls?

image text in transcribedimage text in transcribedimage text in transcribed

Sharma Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of the year, there were no work-in-process or finished goods inventories. The following data are available for the month of July: Ending Work in Manufacturing Costs Added* Department Process Mixing $87,190 $20,840 Encapsulating 75,290 17,420 Bottling 70,620 3,310 *Includes only the direct materials, direct labor, and the overhead used to process the partially finished goods received from the prior department. The transferred-in cost is not included. Required: 1. Prepare journal entries that show the transfer of costs (a) from Mixing to Encapsulating, (b) from Encapsulating to Bottling, and (c) from Bottling to finished goods inventory. a. Work in Process-Encapsulating Work in Process-Mixing b. Work in Process-Bottling Work in Process-Encapsulating c. Finished Goods 1. Prepare journal entries that show the transfer of costs (a) from Mixing to Encapsulating, (b) from Encapsulating to Bottling, and (c) from Bottling to finished goods inventory. a. Work in Process-Encapsulating Work in Process-Mixing b. Work in Process-Bottling Work in Process-Encapsulating C. Finished Goods Work in Process-Bottling Feedback Check My Work As the work is finished in a process (department), the partially completed units and all their associated costs are transferred to the next process (department) by debiting the WIP account of the process receiving the unit and crediting the WIP account of the transferring process (department). 2. Post the entries made in Requirement 1 into the T-accounts below. The costs added from the data provided have been entered in the T-accounts. WIP-Mixing 87,190 20,840 2. Post the entries made in Requirement 1 into the T-accounts below. The costs added from the data provided have been entered in the T-accounts. WIP-Mixing 87,190 20,840 WIP-Encapsulating 75,290 17,420 WIP-Bottling 70,620 3,310 Finished Goods

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Auditing A Tool For Excellence

Authors: David Mills, J. Mills

1st Edition

041245890X, 978-0412458903

More Books

Students also viewed these Accounting questions