Examen Capitulo 21 Accounting Dr. Herminio Rodrigues Principe, CPA PROBLEMA II-PROCESS COST ACCOUNTING ENTRIES FROM Accounta Lucas Manufacturing Company produces a product in two departments: (1) Mixing and (2) Finishing. The company uses a process cost accounting system. a Purchased raw materials for $50,000 on account. b Incurred Factory Labor costs of $72,000. c Direct raw materials requisitioned for production: Mixing department $22,000 Finishing department 13,000 d Direct factory labor assigned: Mixing department $40,000 Finishing department 32,000 e Manufacturing overhead is applied to the product based on machine hours used in each department: Mixing department: 800 machine hours at $15 per machine hour Finishing department: 1,200 machine hours at $10 per machine hour a Compr materiales a crdito por $50,000. b Incurri en costos de Factory Labor por $72,000. f Units costing $60,000 were completed in the Mixing Department and were transferred to the Finishing Department g Units costing $70,000 were completed in the Finishing Department and were transferred to Finished Goods Inventory h Finished goods costing $35,000 were i sold. Finished goods on letter (h) were sold on account for $50,000. Problem III. ROMALY, IN the Forming Departme Romaly, Inc. tiene Departamento de F siguen: Work in Process, December 1 Direct Materials Direct Labor Manufacturing Overhead Total Cost added Costs Added: Total Department C Product