Brief Exercise 21-2 Warner Company purchases $50,600 of raw materials on account

Question

Brief Exercise 21-2

Warner Company purchases $50,600 of raw materials on account, and it incurs $64,200 of factory labor costs. Supporting records show that (a) the Assembly Department used $30,700 of raw materials and $42,900 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

Journal entry :

Date accounts & explanation debit credit Mar 31 Work in process-Assembly department 30700 Work in process-Finishing department 19900       Raw material inventory 50600 (To record materials used) Mar 31 Work in process-Assembly department 42900 Work in process-Finishing department 21300      Wages payable 64200 (To assign factory labor to production)

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