Finn Manufacturing Company uses a process cost accounting and has two production processes, assembly and packaging. Prepare journal entries to record the following transactions during the month of June. Use the template for question #41 that you downloaded prior to taking the exam. When finished, upload your answer.

A. June 8 Raw materials requisitioned by production:

Assembly = $9,000

Packaging = 1,000

Total $10,000

B. June 25 Incurred $78,000 of factory labor. Workers will be paid next month.

C. June 25 Assigned labor to departments. Time tickets indicated the following:

Assembly = $24,000

Packaging = 54,000

Total $78,000

D. June 25 Applied manufacturing overhead to production based on a predetermined overhead rate of $9 per machine hour. Machine hours are 5,500 for Assembly and 1,000 for Packaging.

E. June 28 Goods costing $28,000 were completed in the Packaging department and were transferred to finished goods inventory.