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missing wrong parts missing red x parts cost of Goods Sold 265,200 Finished Goods 2. Compute the July 31 balances of the inventory accounts. Materials
missing wrong parts
missing red x parts
cost of Goods Sold 265,200 Finished Goods 2. Compute the July 31 balances of the inventory accounts. Materials 6,790 X Work in Process-Making Department 170,670 X Work in Process --Packing Department 166,790 X Finished Goods 10,670 x 3. Compute the July 31 balances of the factory overhead accounts. Factory Overhead-Making Department 33,080 X Debit Factory Overhead-Packing Department 32,570 X Credit Feedback Check My Work 1. Remember that there are three different types of inventory materials, work in process and finished goods Each department has a work in process accounts track the costs that were accumulated in that department NOW Pri tem Entries for Process Cost System Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where is turned to granulars. The output of making is tranferred to the Packing Department, where packaging is added at the beginning of the process. Only 1, Preston & Grover Soap Company had the following inventories: $13,500 Finished Goods Work in Process-Making Work in Process --Packing Materials 6,790 7,350 5,100 Departmental accounts are maintained for factory overhead, which both have zero balances on July 1 Manufacturing operations for July are summarized as follows: Step by Step Solution
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