Question
Current Attempt in Progress Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning
Current Attempt in Progress
Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2020, inventories consisted of Raw Materials $ 26,000, Work in ProcessMixing $0, Work in ProcessPackaging $ 251,000, and Finished Goods $ 290,000. The beginning inventory for Packaging consisted of 11,000 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 51,000 units were started into production in the Mixing Department and the following transactions were completed.
1. | Purchased $ 301,000 of raw materials on account. | |
2. | Issued raw materials for production: Mixing $ 211,000 and Packaging $ 46,000. | |
3. | Incurred labor costs of $ 280,900. | |
4. | Used factory labor: Mixing $ 183,500 and Packaging $ 97,400. | |
5. | Incurred $ 812,000 of manufacturing overhead on account. | |
6. | Applied manufacturing overhead on the basis of $ 22 per machine hour. Machine hours were 29,000 in Mixing and 7,000 in Packaging. | |
7. | Transferred 46,000 units from Mixing to Packaging at a cost of $ 980,000. | |
8. | Transferred 54,000 units from Packaging to Finished Goods at a cost of $ 1,316,000. | |
9. | Sold goods costing $ 1,641,000 for $ 2,501,000 on account. |
Journalize the October transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
1. | enter an account title for the first transaction | enter a debit amount | enter a credit amount |
enter an account title for the first transaction | enter a debit amount | enter a credit amount | |
2. | enter an account title for the second transaction | enter a debit amount | enter a credit amount |
enter an account title for the second transaction | enter a debit amount | enter a credit amount | |
enter an account title for the second transaction | enter a debit amount | enter a credit amount | |
3. | enter an account title for the third transaction | enter a debit amount | enter a credit amount |
enter an account title for the third transaction | enter a debit amount | enter a credit amount | |
4. | enter an account title for the fourth transaction | enter a debit amount | enter a credit amount |
enter an account title for the fourth transaction | enter a debit amount | enter a credit amount | |
enter an account title for the fourth transaction | enter a debit amount | enter a credit amount | |
5. | enter an account title for the fifth transaction | enter a debit amount | enter a credit amount |
enter an account title for the fifth transaction | enter a debit amount | enter a credit amount | |
6. | enter an account title for the sixth transaction | enter a debit amount | enter a credit amount |
enter an account title for the sixth transaction | enter a debit amount | enter a credit amount | |
enter an account title for the sixth transaction | enter a debit amount | enter a credit amount | |
7. | enter an account title for the seventh transaction | enter a debit amount | enter a credit amount |
enter an account title for the seventh transaction | enter a debit amount | enter a credit amount | |
8. | enter an account title for the eighth transaction | enter a debit amount | enter a credit amount |
enter an account title for the eighth transaction | enter a debit amount | enter a credit amount | |
9. | enter an account title for the ninth transaction to record the sale | enter a debit amount | enter a credit amount |
enter an account title for the ninth transaction to record the sale | enter a debit amount | enter a credit amount | |
(To record the sale) | |||
enter an account title for the ninth transaction to record the cost of goods sold | enter a debit amount | enter a credit amount | |
enter an account title for the ninth transaction to record the cost of goods sold | enter a debit amount | enter a credit amount | |
(To record the cost of goods sold) |
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