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Please help with journal entries. Process costing Journal Entry: The Geneve Chocolate company is located in French Speaking Switzerland. The company makes truffles that are
Please help with journal entries.
Process costing Journal Entry: The Geneve Chocolate company is located in French Speaking Switzerland. The company makes truffles that are sold in propular embossed tins. The company has 2 processing deparments-Cooking and Molding. In the cooking Department the raw ingriedients for the truffles are mixed and cooked on special candy making vats. In the molding Deparment the melted choclate and other ingridients from the cooking department are carefully poured into molds and decorative flourishes are applied by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the folw of costs through the two departments in April (all amounts are in swiss francs) Work in Process-Cooking Balance 4/1 Direct Materials Direct Labors Overhead 6000 42000 50000 75000 Transferred out 160000 Work in Process-Molding Balance 4/1 Transferred in Direct Labors Overhead 4000 160000 36000 45000 Transferred out 240000 Prepare journal entries showing the folw of costs through the two processing departments during AprilStep by Step Solution
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