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Wholesome Dairy produces an organic butter that is sold by the pound. The production of the butter begins in the Churning Department. Wholesome Dairy's Data
Wholesome Dairy produces an organic butter that is sold by the pound. The production of the butter begins in the Churning Department. Wholesome Dairy's Data for the Churning Department for January follows: (Click the icon to view the data from January.) Wholesome Dairy prepared the following production cost report for January for the Churning Department: (Click the icon to view the January production cost report.) Read the requirements. Data table Units in beginning Work in Process (WIP) inventory 115,000 units Requirement 2. What journal entry is needed at the end of the month to transfer the cost of the butter out of t then credits. Exclude explanations from any journal entries.) Units started during the month (all direct materials, including cream and salt, are added at the beginning of the churning process) 1,700,000 units Journal Entry Accounts Units in ending Work in Process (WIP) inventory (50% of the way through the process) 210,000 units Date Credit Debit 2,519,850 Cost information is as follows: Work in Process Inventory-Forming Work in Process Inventory-Churning 2,519,850 WIP - Churning Department balance as of January 1: Direct material cost included in beginning WIP balance Conversion cost included in beginning WIP balance Beginning balance, WIP, January 1 370,950 165,400 536,350 Requirement 3. Post the journal entries to the "Work in Process Inventory - Churning Department T-account. Work in Process Inventory-Churning Manufacturing costs Manufacturing costs incurred during January: Direct materials used 1,680,000 Transferred to Forming ? Direct labor 7,000 580,000 Manufacturing overhead 2,267,000 Total manufacturing costs entered into production during January Help me solve this Video Get more help. Print Done $ $ $
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