Question
Crane Company purchases $41,000 of raw materials on account, and it incurs $49,200 of factory labor costs. Supporting records show that (a) the Assembly
Crane Company purchases $41,000 of raw materials on account, and it incurs $49,200 of factory labor costs. Supporting records show that (a) the Assembly Department used $19,680 of direct materials and $28,700 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 (To record materials used) (To assign factory labor to production) Debit Credit List of Accounts Accounts Payable Accounts Receivable Cash Cost of Goods Sold Factory Labor Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Sales Revenue Wages Payable Work in Process - Assembly Assistance Used Work in Process - Assembly Work in Process - Blending Work in Process - Canning Work in Process - Cooking Work in Process - Cutting Work in Process - Finishing Work in Process - Machining Work in Process - Mixing Work in Process - Packaging
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