3. 3. Process costing is used. All of the manufacturing activities take place in a single processing department. The following information was available for the month of January: Direct materials 85,200 Direct labor 25,000 40,110 Manufacturing overhead applied Total cost to account for in January 150,310 a) Prepare a journal entry to summarizerthe total manufacturing costs (direct materials, direct labor and manufacturing overhead) applied to productin on January 31, 2020. Date Debit Credit Db Cr b) Prepare the journal entry to transfer completed units from work in process to the finished goods warehouse on January 31,2020. Date Debit Credit Db Cr
3. 3. Process costing is used. All of the manufacturing activities take place in a single processing department. The following information was available for the month of January: Direct materials 85,200 Direct labor 25,000 40,110 Manufacturing overhead applied Total cost to account for in January 150,310 a) Prepare a journal entry to summarizerthe total manufacturing costs (direct materials, direct labor and manufacturing overhead) applied to productin on January 31, 2020. Date Debit Credit Db Cr b) Prepare the journal entry to transfer completed units from work in process to the finished goods warehouse on January 31,2020. Date Debit Credit Db Cr
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...
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