Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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. image text in transcribed

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 April

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David Marshall, Wayne McManus, Daniel Viele

12th edition

007802529X, 1259969525, 978-1260565492

More Books

Students also viewed these Accounting questions

Question

Why is periodic review important?

Answered: 1 week ago

Question

Tell me about yourself.

Answered: 1 week ago