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Pharoah Company manufacturin its product. Vitadrink, through two manufacturing processes: Mixing and Packaging All materials are extered at the beginning of each process. On
Pharoah Company manufacturin its product. Vitadrink, through two manufacturing processes: Mixing and Packaging All materials are extered at the beginning of each process. On October 1, 2022, inventories consisted of Raw Materials $29,120, Work in Pro Mixing 50. Work in Process-Packaging $280,000, and Finished Goods $323680. The beginning inventory for Packaging consisted of 11.200 units that were 50% complete as to conversion costs and fully complete as to materials. During October 56.000 units were started into production in the Mixing Department and the following transactions were completed 1 Purchased $336,000 of raw materials on account 2 hued direct materials for production Mixing $235,200 and Packaging $50,400 3. Incurred labor costs of $312.368. (Use Wages Payable 4 Used factory labor: Mixing $204-400 and Packaging $107.96 5. Incurred $907,200 of manufacturing overhead an account. 6 Applied manufacturing overhead on the basis of $23 per machine hour Machine hours were 31.360 in Mixing and 6.720 in Packaging 7 Transferred 50,400 units from Mising to Packaging at a cost of $1.096.480 Completed and transferred 59,360 units from Packaging to Finished Goods at a cost of $1,472,800 Sold goods costing $1,796,480 for $2.800.000 on account
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