Problem 16A-01A Marigold Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. The following transactions were completed during October, the company's 1. Purchased $302,000 of raw materials. 2. Issued raw materials for production: Mixing $214,100 and Packaging $50,000. 3. Incurred labor costs of $284,200. 4. Used factory labor: Mixing $185,800 and Packaging $98,400. 5. Incurred $889,800 of manufacturing overhead. 6. Applied manufacturing overhead on the basis of $24 per machine hour. Machine hours were 29,000 in Mixing and 7,200 in Packaging. 7. Transferred 46,700 units from Mixing to Packaging at a cost of $980,000. 8. Transferred 56,300 units from Packaging to Finished Goods at a cost of $1,319,000. 9. Sold goods costing $1,214,000. Record the October transactions using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MANUFACTURING COSTS Raw Materials Inventory Factory Labor Manufacturing Overhead 302,000 $ WORK IN PROCESS Mixing Packaging 214,100 50,000 FINISHED GOODS INVENTORY COST OF GOODS SOLD 1. 2. 3. 4. 5. 6. 7. 8. 9 2. Exercise 16A-04 Swifty Company has two production departments: Cutting and Assembly. During July, the following transactions occurred. 1. Purchased $63,100 of raw materials. Incurred $60,900 of factory labor. 3. Incurred $71,600 of manufacturing overhead. 4. Requisitioned materials for Cutting $16,700 and Assembly $9,700. 5. Used factory labor for Cutting $34,000 and Assembly $26,900. . 6. Applied overhead at the rate of $21 per machine hour. Machine hours were Cutting 1,720 and Assembly 1,770. 7. Transferred goods costing $69,660 from the Cutting Department to the Assembly Department. Transferred goods costing $135,600 from Assembly to Finished Goods. 9. Sold goods costing $121,600. 8. COST OF GOODS SOLD Record the transactions using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MANUFACTURING COSTS WORK IN PROCESS Raw Materials Inventory Factory Labor Manufacturing Overhead Cutting Assembly FINISHED GOODS INVENTORY 1. Direct materials purchased 63,100 $ 2. Factory labor incurred 3. Manufacturing overhead incurred Direct materials used 5. Factory labor assigned 6. Manufacturing Overhead assigned 7. Transfer from Cutting to Assembly 8. Transfer from Assembly to Finished Goods 9. Record Cost of Goods Sold Click if you would like to Show Work for this question: Open Show Work Do It! Review 16A-02 Swifty Company manufactures CH-21 through two processes: Mixing and Packaging. In July, the following costs were incurred. Raw materials used Factory labor costs Manufacturing overhead costs Mixing $10,700 8,800 12.600 Packaging $28,600 36,800 54,800 Units completed at a cost of $22,000 in the Mixing Department are transferred to the Packaging Department. Units completed at a cost of $105,100 in the Packaging Department are transferred to Finished Goods. Record the assignment of these costs to the two processes and the transfer of units as appropriate using the following format. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Manufacturing Costs Manufacturing Overhead Work in Process - Mixing Raw Materials Inventory Factory Labor Work in Process - Packaging Finished Goods Inventory Direct materials used Factory labor assigned Manufacturing overhead assigned Transfer from Mixing to Packaging Transfer from Packaging to Finished Goods Inventory Click if you would like to Show Work for this question: Open Show Work