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Current Attempt in Progress Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. The following transactions were completed during October,
Current Attempt in Progress Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. The following transactions were completed during October, the company's first month of operations. 1. 2. 3. 4. 5. Purchased $301,000 of raw materials. Issued raw materials for production: Mixing $213,200 and Packaging $47,300. Incurred labor costs of $286,700. Used factory labor: Mixing $187,300 and Packaging $99,400. Incurred $1,033,500 of manufacturing overhead. Applied manufacturing overhead on the basis of $25 per machine hour. Machine hours were 30,800 in Mixing and 9,000 in Packaging. Transferred 46,200 units from Mixing to Packaging at a cost of $982,000. Transferred 57,800 units from Packaging to Finished Goods at a cost of $1,316,000. Sold goods costing $1,211,000. 6. 7. 8. 9. Record the October transactions using the following format. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) WOR Raw Materials Inventory MANUFACTURING COSTS Factory Labor $ Manufacturing Overhead Mixing 1. $ $ $ 2. 3. 4. . 6. 7. 8. 9. WORK IN PROCESS Packaging FINISHED GOODS INVENTORY COST OF GOODS SOLD Mixing $ $ $ $ $
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