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The Veeta Baking Company has a single product known as Veeta Bread. The company uses a process costing system. The Veeta Bread is processed
The Veeta Baking Company has a single product known as Veeta Bread. The company uses a process costing system. The Veeta Bread is processed through two departments mixing department and baking department. The flow of cost through mixing and baking departments for the month of July has been shown by the following work in process T-accounts: Work in process - Mixing Bal. 7/1 5,000 380,000 Transferred out Direct materials 165,000 130,000 95,000 Direct labor Overhead Work in process - Baking Bal. 7/1 10,000 490,000 Transferred out Transferred in 380,000 60,000 45,000 Direct labor Overhead Required: Using the information given in above T-accounts, make journal entries to show the flow of cost through mixing and baking departments for the month of July.
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