Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Make a journal entry to transfer costs. (Obj. 5). Total costs incurred in the Blending Department 125 of the Velazquez Corporation during October were $74,
Make a journal entry to transfer costs. (Obj. 5). Total costs incurred in the Blending Department 125 of the Velazquez Corporation during October were $74, 510. Of this amount, $2, 600 is determined to be applicable to the ending work in process and the balance is applicable to work transferred to the Bottling Department 126. Give the journal entry to record the transfer of units between the departments. Prepare a journal entry to transfer costs. (Obj. 5). The beginning inventory of work in process in the Packaging Department 127 of the McFee Company in March was $34,000. Costs incurred in the department during the month totaled $68,000. The cost of products transferred to Finished Goods 130 during the month was $76,000. Give the journal entry to record the transfer of finished products from the Packaging Department to the finished goods storeroom. Identify the constraining department. (Obj. 6). Maine Arm Chair Company has three departments. The Assembling Department has three employees who spend 15 minutes on each unit of product. The Stuffing Department has two employees who spend 12 minutes on each unit of product. The Sewing Department has four employees who spend 16 minutes per unit of product. All departments work one eight-hour shift per day. All product moves through the three departments in the order in which they are listed. Which is the constraining department? What is the maximum output for the company per day? What is the daily backlog accumulation, if all departments produce at capacity? Which department will necessarily have idle time? Why
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started