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Record the following process costing transactions in the general journal: (Click the icon to view the transactions.) a. Record the purchase of raw materials on
Record the following process costing transactions in the general journal: (Click the icon to view the transactions.) a. Record the purchase of raw materials on account, $10,500. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit Transactions a. b. Record the requisition of direct materials to the Assembly Department, $7,500. Journal Entry Accounts Debit Credit b. a. Purchase of raw materials on account, $10,500 b. Requisition of direct materials to Assembly Department, $7,500 Finishing Department, $2,000 c. Incurrence and payment of manufacturing labour, $12,500 d. Incurrence of manufacturing overhead costs: Property taxes-plant, $2,900 Utilitiesplant, $5,700 Insurance-plant, $1,600 Depreciation-plant, $4,600 e. Assignment of conversion costs to the Assembly Department: Direct labour, $5,900 Manufacturing overhead, $3,300 f. gnme of conversion costs to the Finishing Department: Direct labour, $6,200 Manufacturing overhead, $7,800 g. Cost of goods completed and transferred out of the Assembly Department to the Finishing Department, $12,000 h. Cost of goods completed and transferred out of the Finishing Department into Finished Goods Inventory, $17.250 Now record the requisition of direct materials to the Finishing Department, $2,000 Journal Entry Accounts Debit Credit b. Print Done c. Record the incurrence and payment of manufacturing labour, $12,500. Assume the wages have been paid to the workers. Journal Entry Accounts Debit Credit C. d. Record the incurrence of manufacturing overhead costs that are assigned to the plant property taxes, $2,900; utilities, 55,700; insurance, $1,600; depreciation, $4,600. Journal Entry Accounts Debit Credit d
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