Please help me figure out these Two Problems. I have the entries Journalized I a

Question

Please help me figure out these Two Problems. I have the entries Journalized I am just not sure how to answer the last two questions.

Entries for Process Cost System

Cincinnati Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where the packaging is added at the beginning of the process. On July 1, Cincinnati Soap Company had the following inventories:

Departmental accounts are maintained for factory overhead, which both have zero balances on July 1.

Manufacturing operations for July are summarized as follows:

Materials $

Work in Process—Making Department $

Work in Process—Packing Department $

Finished Goods $

3. Compute the July 31 balances of the factory overhead accounts. If required, use the minus sign to indicate a credit balance.

Explanation / Answer

Materials Account Debit Credit Opening balance on July 1 1190 Purchases 67410 b.Materials requisitioned for use Phosphate—Making Department 44530 Packaging—Packing Department 15,490 Balance of materials on July,31 8,580 68600 68600 Work in Process—Making Department Account Opening balance on July 1 2100 Phosphate—Making Department 44530 Direct labor—Making Department 31810 Applied Factory OH 15,180 Production costs transferred from Making Department to Packing Department 91780 Closing balance- July 31 1840 93620 93620 Work in Process—Packing Department Account Opening balance on July 1 2,740 Production costs transferred from Making Department to Packing Department 91780 Packaging—Packing Department 15,490 Direct labor—Packing Department 21,470 Applied Factory OH 16770 Production costs transferred from Packing Department to Finished Goods 144450 Closing balance- July 31 3800 1,48,250 1,48,250 Finished Goods Account Opening balance on July 1 5410 Production costs transferred from Packing Department to Finished Goods 144450 COGS 144980 Closing balance- July 31 4880 149860 149860 July 31, balances Materials 8580 Work in Process—Making Department 1840 Work in Process—Packing Department 3800 Finished Goods    4880 Factory OH account- Making Dept. Indirect materials—Making Department 1,740 Indirect labor—Making Department 6,160 Depreciation charged on fixed assets Making Department 5810 Expired prepaid factory insurance Making Department 1100 Applied factory overhead Making Department 15180 Closing Balance 370 15180 15180 Factory OH account- Packing Dept. Indirect materials—Packing Department 620 Indirect labor—Packing Department 11,040 Depreciation charged on fixed assets Packing Department 4,800 Expired prepaid factory insurance Packing Department 440 Applied factory overhead Packing Department 16,770 Closing Balance 130 16900 16900 Balance as on 31, July Factory OH account- Making Dept. 370 Credit Factory OH account- Packing Dept. 130 Debit

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