Irish Bakery mass-produces bread using three sequential processing departments: Mixing, Baking, and Packaging. The following transactions...
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Irish Bakery mass-produces bread using three sequential processing departments: Mixing, Baking, and Packaging. The following transactions occurred during April: (Click the icon to view the transactions.) Requirements 1. Post each of these transactions to the company's inventory T-accounts. 2. Determine the balance at month-end in each of the inventory accounts. 3. Assume that 3,025,000 loaves of bread were completed and transferred out of the Packaging Department during the month. What was the cost per unit of making each loaf of bread (from start to finish)? 14. Beginning balance: Work in Process Inventory-Packaging 15. Purchases of Raw Materials 16. Direct labor incurred in the Baking Department 17. Manufacturing overhead allocated to the Packaging Department 18. Cost of goods sold WIP-Packaging Dept. Raw Materials Inventory WIP-Baking Dept. WIP-Packaging Dept. Finished Goods Inventory Requirements 1 and 2. Post the transactions to the T-accounts and determine the ending balance. Begin with the T-account for Raw Materials Inventory. Enter the transactions that affect the T-account and calculate the ending balance. Beginning balance Raw Materials Inventory Irish Bakery mass-produces bread using three sequential processing departments: Mixing, Baking, and Packaging. The following transactions occurred during April: (Click the icon to view the transactions.) Requirements 1. Post each of these transactions to the company's inventory T-accounts. 2. Determine the balance at month-end in each of the inventory accounts. 3. Assume that 3,025,000 loaves of bread were completed and transferred out of the Packaging Department during the month. What was the cost per unit of making each loaf of bread (from start to finish)? 14. Beginning balance: Work in Process Inventory-Packaging 15. Purchases of Raw Materials 16. Direct labor incurred in the Baking Department 17. Manufacturing overhead allocated to the Packaging Department 18. Cost of goods sold WIP-Packaging Dept. Raw Materials Inventory WIP-Baking Dept. WIP-Packaging Dept. Finished Goods Inventory Requirements 1 and 2. Post the transactions to the T-accounts and determine the ending balance. Begin with the T-account for Raw Materials Inventory. Enter the transactions that affect the T-account and calculate the ending balance. Beginning balance Raw Materials Inventory
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