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Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. The following transactions were completed during October, the company's first
Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. The following transactions were completed during October, the company's first month of operations. 1. Purchased $301,700 of raw materials. 2. Issued raw materials for production: Mixing $213,000 and Packaging $49,600. 3. Incurred labor costs of $286,600. 4. Used factory labor: Mixing $185,500 and Packaging $101,100. 5. Incurred $901,500 of manufacturing overhead. 6. Applied manufacturing overhead on the basis of $22 per machine hour. Machine hours were 32,000 in Mixing and 7,500 in Packaging. 7. Transferred 49,700 units from Mixing to Packaging at a cost of $983,700. 8. Transferred 56,900 units from Packaging to Finished Goods at a cost of $1,320,000. 9. Sold goods costing $1,215,000. Record the October transactions using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MANUFACTURING COSTS Factory Labor Manufacturing Overhead Mixing $ $ Raw Materials Inventory 1. $ $ 2. 3. 5. 6. 7. 8. 9. WORK
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