Question
I need help Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that
I need help
Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $371,000, $142,000, and $98,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,200, and work in process at the end of the period totaled $28,400.
Required:
a.(1)On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct materials.*(2)On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct labor.*(3)On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for factory overhead.*b.On September 30, journalize the entry to record the transfer of production costs to the second department, Sifting.**Refer to the Chart of Accounts for exact wording of account titles
CHART OF ACCOUNTS
Sweeties, Inc.
General Ledger
ASSETS
110Cash
121Accounts Receivable
125Notes Receivable
126Interest Receivable
131Materials
141Work in Process-Refining
142Work in Process-Sifting
143Work in Process-Packing
151Factory Overhead-Refining
152Factory Overhead-Sifting
153Factory Overhead-Packing
161Finished Goods
171Supplies
172Prepaid Insurance
173Prepaid Expenses
181Land
191Factory
192Accumulated Depreciation-Factory
LIABILITIES
210Accounts Payable
221Utilities Payable
231Notes Payable
236Interest Payable
251Wages Payable
EQUITY
311Common Stock
340Retained Earnings
351Dividends
390Income Summary
REVENUE
410Sales
610Interest Revenue
a(1). On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct materials. Refer to the Chart of Accounts for exact wording of account titles.
a(2). On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct labor. Refer to the Chart of Accounts for exact wording of account titles.
a(3). On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for factory overhead. Refer to the Chart of Accounts for exact wording of account titles.
b. On September 30, journalize the entry to record the transfer of production costs to the second department, Sifting. Refer to the Chart of Accounts for exact wording of account titles.
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