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Please answer all the questions, according to the table format, only the answer is needed, thank you very much Gaspereau Vineyards in Nova Scotia has
Please answer all the questions, according to the table format, only the answer is needed, thank you very much
Gaspereau Vineyards in Nova Scotia has two departments: Fermenting and Packaging. Direct materials are added at the beginning of the fermenting process (grapes) and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. Data from the month of March for the Fermenting Department are as follows: : (Click the icon to view the data from March.) 5 (Click the icon to view the assignment of costs.) Requirements 1. Present the journal entries to record the use of direct materials and direct labour and the allocation of manufacturing overhead to the Fermenting Department. Also, give the journal entry to record the cost of the litres completed and transferred out to the Packaging Department 2. Post the journal entries to the Work in Process InventoryFermenting T-account. What is the ending balance? ... Requirement 1. Present the journal entry to record the use of direct materials and direct labour and the allocation of manufacturing overhead to the Fermenting Department. Also, give the journal entry to record the cost of the litres completed and transferred out to the Packaging Department. Let's begin with recording the entry for the use of direct materials and direct labour and the allocation of manufacturing overhead to the Fermenting Department. (Record debits first, then credits. Explanations are not required.) Journal Entry Date Accounts Debit Credit Data table Data table Litres 2,000 litres Gaspereau Vineyards Fermenting Department Assignment of Costs 6,000 litres 6,550 litres Direct Materials Conversion Costs Total Conversion Costs 6,550 x $ 1.45 + $0.90 ) $ 15,392.50 1,450 litres Assign costs: Completed and transferred out Ending work in process inventory Direct materials Manufacturing Overhead 1,450 x $ 1.45 Beginning work in process inventory Started production Completed and transferred out to Packaging in March Ending work in process inventory (80% of the way through the fermenting process) Costs: Beginning work in process inventory ($2,800 of direct materials and $2,855 of conversion cost) Costs added during March: Direct materials Direct labour Manufacturing overhead 2,102.50 1,044.00 Raw Materials Inventory 1,160 x S 0.90 $ 5,655 Conversion costs Total ending work in process inventory, March 31 3,146.50 Wages Payable $ 18,539.00 Total cost accounted for 8.800 Work in Process Inventory-Fermenting 1,600 Work in Process Inventory-Packaging 2,484 $ 12,884 Print Done Total costs added during March Print DoneStep by Step Solution
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