Entries for flow of factory cost for a process costing

Requirest CHART OF ACCOUNTS Keoni Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 141 Work in Process-Refining Department 520 Wages Expense 142 Work in Process-Sifting Department 531 Selling Expenses 143 Work in Process-Packing Department 532 Insurance Expense 151 Factory Overhead-Refining Department 533 Utilities Expense 152 Factory Overhead-Sifting Department 534 Supplies Expense 153 Factory Overhead-Packing Department 540 Administrative Expenses 161 Finished Goods 561 Depreciation Expense-Factory 171 Supplies 590 Miscellaneous Expense 172 Prepaid Insurance 710 Interest Expense 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory 161 Finished Goods 561 Depreciation Expense-Factory 171 Supplies 590 Miscellaneous Expense 172 Prepaid Insurance 710 Interest Expense 173 Prepaid Expenses 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 poriod for direct materials. a(2). On September 30, joumalize the entry to record the fow of costs into the Refining Department during the period for direct labor. a(3). On September 30 , joumalize the entry to record the flow of costs into the Refining Departmant during the period for factory ovemhead a(3). On September 30, joumalize the entry to recond the flow of costs into the Refining Department during the period for factory overhead. b. On September 30, journalice the entry to record the transfer of production costs to the second department, Sifting. Requirest CHART OF ACCOUNTS Keoni Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 141 Work in Process-Refining Department 520 Wages Expense 142 Work in Process-Sifting Department 531 Selling Expenses 143 Work in Process-Packing Department 532 Insurance Expense 151 Factory Overhead-Refining Department 533 Utilities Expense 152 Factory Overhead-Sifting Department 534 Supplies Expense 153 Factory Overhead-Packing Department 540 Administrative Expenses 161 Finished Goods 561 Depreciation Expense-Factory 171 Supplies 590 Miscellaneous Expense 172 Prepaid Insurance 710 Interest Expense 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory 161 Finished Goods 561 Depreciation Expense-Factory 171 Supplies 590 Miscellaneous Expense 172 Prepaid Insurance 710 Interest Expense 173 Prepaid Expenses 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 poriod for direct materials. a(2). On September 30, joumalize the entry to record the fow of costs into the Refining Department during the period for direct labor. a(3). On September 30 , joumalize the entry to record the flow of costs into the Refining Departmant during the period for factory ovemhead a(3). On September 30, joumalize the entry to recond the flow of costs into the Refining Department during the period for factory overhead. b. On September 30, journalice the entry to record the transfer of production costs to the second department, Sifting