Chart of Accounts Instructions ASSETS REVENUE Sweeties, Inc., manufactures a sugar product by a continuous process, involving three 110 Cash 410 Sales production departments-Refining, Sifting, and Packing. Assume that records indicate 121 Accounts Receivable 610 Interest Revenue that direct materials, direct labor, and applied factory overhead for the first department, 125 Notes Receivable Refining, were $386,000, $145,000, and $98,800, respectively. Also, work process in EXPENSES 126 Interest Receivable the Refining Department at the beginning of the period totaled $29,600, and work in 510 Cost of Goods Sold 131 Materials process at the end of the period totaled $28.400. 141 Work in Process-Refining 520 Wages Expense Required: 531 Selling Expenses 142 Work in Process-Sifting (1) On September 30, journalize the entry to record the flow of costs into a. 532 Insurance Expense 143 Work in Process-Packing the Refining Department during the period for direct materials.* 533 Utilities Expense 151 Factory Overhead-Refining (2) On September 30, journalize the entry to record the flow of costs into 534 Supplies Expense 152 Factory Overhead-Sifting the Refining Department during the period for direct labor. 540 Administrative Expenses 153 Factory Overhead-Packing (3) On September 30, journalize the entry to record the flow of costs into 561 Depreciation Expense-Factory 161 Finished Goods the Refining Department during the period for factory overhead.* 590 Miscellaneous Expense 171 Supplies b. On September 30, journalize the entry to record the transfer of production 710 Interest Expense 172 Prepaid Insurance costs to the second department, Sifting. 173 Prepaid Expenses Refer to the Chart of Accounts for exact warding of account titles 181 Land 191 Factory 192 Accumulated Depreciation-Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary a(1). On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct materials. Refer to the Chart of Accounts for exact wording of account tites How does gradine work? PAGE1 JOURNAL Score: 21/25 DEBIT CREDIT DATE DESCRIPTION POST REE Work in Process-Refining Sep. 30 1 Materials | 4.2/5 Points: a(2). On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct labor Refer to the Chart of Accounts for exact wording of account titles Question not attemp ted. PAGE 10 Score: 0/25 JOURNAL POST, REF. CREDIT DATE DESCRIPTION DEBIT 1 a(3). On September 30, journalize the entry to record the fiow of costs into the Refining Department during the period for factory overhead Refer to the Chart of Accounts for exact wording of account titles Question not attempted. PAGE 10 Score: 0/25 JOURNAL DESCRIPTION POST REF DEBIT DATE CREDIT 1 2 Points: 0/5 Feedback On September 30, journalize the entry record the transfer of production costs to the second department, Sifting Refer to the Chart of Accounts for exact wording of account titles. Ouestion not attempted. PAGE 10 JOURNAL Score: 0/25 DESCRIPTION POST. REF DATE DEBIT CREDIT
