Brief Exercise 16-2 Warner Company purchases $51,500 of raw materials on account

Question

Brief Exercise 16-2

Warner Company purchases $51,500 of raw materials on account, and it incurs $65,400 of factory labor costs. Supporting records show that (a) the Assembly Department used $27,500 of raw materials and $39,700 of the factory labor, and (b) the Finishing Department used the remainder.

Journalize the assignment of the costs to the processing departments on March 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

(To record materials used)

(To assign factory labor to production)

Date

Account Titles and Explanation

Debit

Credit

Mar. 31

(To record materials used)

31

(To assign factory labor to production)

Explanation / Answer

Journalize the assignment of the costs to the processing departments on March 31.

Date account and explanation debit credit Mar 31 Work in process-Assembly Department 27500 Work in process-Finishing Department 24000 Raw material inventory 51500 (To record materials used) Mar 31 Work in process-Assembly Department 39700 Work in process-Finishing Department 25700 Factory labour 65400 (To assign factory labor to production)

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