Exercise 4-7 (Algo) Process Costing Journal Entries [LO4-1] Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerland. The company makes chocolate truffles that are sold in popular embossed tins. The company has two processing departments-Cooking and Molding. In the Cooking Department, the raw ingredients for the truffles are mixed and then cooked in special candy-making vats. In the Molding Department, the melted chocolate and other ingredients from the Cooking Department are carefully poured into molds and decorative flourishes are applied by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the flow of costs through the two departments in April: Work in Process-Cooking Debit Credit 11,000 Transferred out 762,000 Balance 4/1 Direct materials Direct labor Overhead Balance 4/1 Transferred in Direct labor Overhead Debit 335,000 260,000 192,000 Work in Process-Molding 17,000 762,000 124,000 88,000 Credit Transferred out 976,000 Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record issuance of raw materials. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the direct labor incurred. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit View general journal Record entry Clear entry W Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record entry to apply manufacturing overhead. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit > Record entry Clear entry View general journal Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the work completed in Molding Department. Note: Enter debits before credits. Transaction 5 General Journal Debit Credit View general journal Record entry Clear entry Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 A 5 Record the work completed in Cooking Department. Note: Enter debits before credits. Transaction 4 General Journal Debit Credit View general journal Record entry Clear entry >