Entries for Flow of Factory Costs for Process Cost System Sweeties, Inc., manufa

Question

Entries for Flow of Factory Costs for Process Cost System Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $444,000, $155,400, and $102,100, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $24,900, and work in process at the end of the period totaled $30,600. Journalize the entries to record the flow of costs into the Refining Department during the period for direct materials, direct labor, and factory overhead.

Explanation / Answer

a)

1. Dr. Refining work in processs A/c $444,000

      Cr. Material                                   A/c $ 444,000

2. Dr. Refining work in processs $155,400

         Cr. Labour                                  $155,400

3. Dr.Refining work in processs $ 102,100

           Cr. FOH control account           $102,100

b)

Dr. Stiffing work in processs A/c $695,800

       Cr.Refining work in processs A/c $695,800

*( 24900+444000+155400+102100 ) - 30600 = $695,800

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