Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerlan

Question

Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerland. The company makes chocolate truffiles that are sold in popular embossed tins. The company has two processing departments-Cooking and Molding. In the Cooking Department, the raw ingredients for the truffles are mixed and then cooked in special candy-making vats. In the Molding Department, the melted chocolate and other ingredients from the Cooking Department are carefully poured into molds and decorative flourishes are applied by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the flow of costs through the two departments in April Work in Process-Cooking Balance 4/1 Direct materials Direct labor Overhead 10,000Transferred out 328,000 259,000 192,000 762,000 Work in Process-Molding Balance 4/1 Transferred in Direct labor Overhead 20,000 Transferred out 978,000 762,000 124,000 93,000 Required Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 5 Record issuance of raw materials Note: Enter debits before credits. Transaction General Journal Debit Credit ork in process-Cookin Record entry View general journal Clear entry

Explanation / Answer

Ans 3(2). Cost of units completed and transferred out= (25000 X $12.5)+ (25000 X $ 3.2) + (25000 X 6.4)=$ 552500.

Ans 1 Transaction General Journal Debit Credit 1 Work in Progress Cooking A/c Dr 779000 To Direct Materials 328000 To Direct Labour 259000 To Overheads 192000 Being flow of Materials, Labour Overheads to Work in Progress Cooking A/c 2 Work in Progress Moulding A/c Dr 979000 To Work in Progress Cooking A/c 762000 To Direct Labour 124000 To Overhead 93000 Being flow of previous process, labour and overheads 3 Work in Progress Moulding A/c Dr 978000 To Finished Goods A/c 978000 Being flow of finished goods.

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