Question
Process Costing Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $6,000,000.
Process Costing Journal Entries
In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $6,000,000. The conversion cost for the period in the Rolling Department is $925,200 ($725,200 factory overhead applied and $200,000 direct labor). The total cost transferred to Finished Goods for the period was $6,775,760. The Rolling Department had a beginning inventory of $318,560.
Question Content Area
a1. Journalize the cost of transferred-in materials for the Rolling Department. If an amount box does not require an entry, leave it blank.
blank | Account | Debit | Credit |
---|---|---|---|
blank | CashFactory Overhead-CastingFactory Overhead-RollingWork in Process-CastingWork in Process-Rolling | ||
CashFactory Overhead-CastingFactory Overhead-RollingWork in Process-CastingWork in Process-Rolling |
Question Content Area
a2. Journalize the conversion costs for the Rolling Department. If an amount box does not require an entry, leave it blank.
blank | Account | Debit | Credit |
---|---|---|---|
blank | Factory Overhead-CastingFactory Overhead-RollingWages PayableWork in Process-CastingWork in Process-Rolling | ||
CashFactory Overhead-CastingFactory Overhead-RollingWork in Process-CastingWork in Process-Rolling | |||
CashFactory Overhead-CastingWages PayableWork in Process-CastingWork in Process-Rolling |
Question Content Area
a3. Journalize the costs transferred out to Finished Goods for the Rolling Department. If an amount box does not require an entry, leave it blank.
blank | Account | Debit | Credit |
---|---|---|---|
blank | Factory Overhead-CastingFactory Overhead-RollingFinished GoodsWork in Process-CastingWork in Process-Rolling | ||
Factory Overhead-CastingFactory Overhead-RollingFinished GoodsWork in Process-CastingWork in Process-Rolling |
Question Content Area
b. Determine the balance of Work in ProcessRolling at the end of the period.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started