Chapter 17 PR 17-1B eBook Show Me How Calculator Entries for Process Cost System ? 1. PR. 17-01B Preston & Graver Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where packaging is added at the beginning of the process. On July 1, Preston & Grover Soap Company had the following inventories: $13,500 Finished Goods Work in Process-Making Work in Process-Packing 6,790 7,350 Materials 5,100 Departmental accounts are maintained for factory overhead, which both have zero balances on July 1. Manufacturing operations for July are summarized as follows: $149,800 a. Materials purchased on account b. Materials requisitioned for use Phosphate-Making Department Packaging-Packing Department Indirect materials-Making Department Indirect materials-Packing Department C. Labor used $105,700 31,300 4,900 1,530 $32,400 40,900 Direct labor-Making Department Direct labor-Packing Department Indirect labor-Making Department Indirect labor-Packing Department 15,400 18,300 Check My Work Progress: 1/1 Items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Chapter 17 PR 17-1B eBook Show Me How Calculator 18,300 1. PR.17-01B Indirect labor-Packing Department d. Depreciation charged on fixed assets Making Department $10,700 7,900 Packing Department e. Expired prepaid factory insurance $2,000 1,500 Making Department Packing Department f. Applied factory overhead Making Department Packing Department $32,570 30,050 9. Production costs transferred from Making Department to Packing Department h. Production costs transferred from Packing Department to Finished Goods 1. Cast of goods sold during the period $166,790 $263,400 $265,200 Required: 1. Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank. Item Account Debit Credit a. b. Check My Work Progress: 1/1 Items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Chapter 17 PR 17-18 eBook Show Me How Calculator .PR. 17-018 1. Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank. Item Account Debit Credit III Check My Work Progress: 1/1 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Chapter 17 PR 17-18 eBook Show Me How Calculator 1. PR. 17-01B 2. Compute the July 31 balances of the inventory accounts Materials Work in Process-Making Department Check My Work Progress: 1/1 Items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Chapter 17 PR 17-18 eBook Show Me How Calculator 1. PR. 17-01B 2. Compute the July 31 balances of the inventory accounts. Materials Work in Process-Making Department ul. Work in Process Packing Department Finished Goods 3. Compute the July 31 balances of the factory overhead accounts. Factory Overhead-Making Department Factory Overhead-Packing Department $ Check My Work Progress: 1/1 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading
