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Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departmentsRefining, Sifting,

Entries for Flow of Factory Costs for Process Cost System

Radford Inc. manufactures a sugar product by a continuous process, involving three production departmentsRefining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $499,700, $174,900, and $114,900, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $28,000, and work in process at the end of the period totaled $34,500.

a. Journalize the entries to record the flow of costs into the Refining Department during the period for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank.

1.

Cash/Factory Overhead-Refining Department/Finished Goods/Materials/Work in Process-Refining Department/Work in Process-Sifting Department

$______ $_______

Accounts Payable/Cash/Factory Overhead-Refining Department/Materials/Work in Process-Refining Department/Work in Process-Sifting Department

$______

$______
2.

Cash/Factory Overhead-Refining Department/Materials/Wages Payable/Work in Process-Refining Department/Work in Process-Sifting Department

$______ $______

Cash/Factory Overhead-Refining Department/Materials/Wages Payable/Work in Process-Refining Department/Work in Process-Sifting Department

$_______ $_______
3.

Cash/Factory Overhead-Refining Department/Finished Goods/Materials/Work in Process-Refining Department/Work in Process-Sifting Department

$_______ $_______

Cash/Factory Overhead-Refining Department/Finished Goods/Materials/Work in Process-Refining Department/Work in Process-Sifting Department

$_______ $_______

b. Journalize the entry to record the transfer of production costs to the second department, Sifting. If an amount box does not require an entry, leave it blank.

Cash/Factory Overhead-Refining Department/Factory Overhead-Sifting Department/Materials/Work in Process-Refining Department/Work in Process-Sifting Department

$_______ $_______

Cash/Factory Overhead-Refining Department/Factory Overhead-Sifting Department/Materials/Work in Process-Refining Department/Work in Process-Sifting Department

$_______ $_______

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