Journalize the following transaction: Juniper Company manufactures a sugar produ
ID: 2452112 • Letter: J
Question
Journalize the following transaction: Juniper Company manufactures a sugar product by a process system records indicate that direct materials, direct labor and applied factor overhead for the first department, refining, were $145,000, $96,00* $31,600, respectively. Also, work in process in the refining depart the beginning of the period totalled $22,000, and work in process a end of the period totalled $67,000 Required: Make the entries to record: The flow of costs into the refining department Direct materials Direct labor Factory overhead. The transfer of production costs to the second depart Sifting.Explanation / Answer
** Transfer of cost to second department = Beginning WIP + Cost incurred during the year -ending WIP
=22000 + (145000 + 96000 +31600 ) - 67000
= $ 227600
Date Title Debit credit 1 a work in process 145,000 Raw material inventory 145,000 [being material charged to product] b Work in process 96,000 Factory labor 96,000 [being labor cost charged to wip] c Work in process 31,600 Manufacturing overhead 31,600 [being manufacturing overhead applied] 2 Work in process -sifting department 227600 Work in process - Refining department 227600 [being production cost transfered from refining department to sifting department]Related Questions
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