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Complete each problem (journal entries and ending balances) based on the information provided Process Cost Systems Information Paupack Candy Co. makes chocolate candy bars. First,
Complete each problem (journal entries and ending balances) based on the information provided
Process Cost Systems Information Paupack Candy Co. makes chocolate candy bars. First, ingredients are mixed in the Mixing Department. Then they are sent to the Finishing Department to be set and wrapped. On August 1, Paupack Candy Co. had the following beginning inventory amounts: Materials: $5,100 Work in Process - Mixing: $6,790 Work in Process - Finishing: $7,350 Finished Goods - $13,500 The following happened in August: A. Materials were purchased on account for $149,800 B. Materials were requisitioned for use: a. Cocoa & Sugar - Mixing Department: $105,700 b. Wrapping - Finishing Department: $31,300 c. Indirect Materials - Mixing Department: $4,980 d. Indirect Materials - Finishing Department: $1,530 C. Labor Used: a. Direct Labor - Mixing Department: $32,400 b. Direct Labor - Finishing Department: $40,900 c. Indirect Labor - Mixing Department: $15,400 d. Indirect Labor - Finishing Department: $18,300 D. Depreciation of Equipment: a. Mixing Department: $10,700 b. Finishing Department: $7,900 E. Prepaid factory rent allocations: a. Mixing Department: $2,000 b. Finishing Department: $1,500 F. Factor Overhead Applied: a. Mixing Department: $32,570 b. Packing Department: $30,050 G. Costs transferred from Mixing to Finishing Department: $166,790 H. Costs of goods completely finished by the Finishing Department: $263,400 1. Costs of goods sold during the period $265,200
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