Chocolaterie de Geneve, SA, is located in a French-speaking canton In Switzerland. The company makes chocolate truffles 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: Debit Balance 4/1 Direct materials Direct labor Overhead Balance 4/1 Transferred in Direct labor Overhead Debit Work in Process-Cooking Credit 10,000 327,000 265,000 190,000 Work in Process-Molding Transferred out Credit 17,000 Transferred out 764,000 122,000 85,000 764,000 981,000 Required: Prepare Journal entries showing the flow of costs through the two processing departments. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.

Chocolaterie de Geneve, SA, is located in a French-speaking canton In Switzerland. The company makes chocolate truffles 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: Debit Balance 4/1 Direct materials Direct labor Overhead Balance 4/1 Transferred in Direct labor Overhead Debit Work in Process-Cooking Credit 10,000 327,000 265,000 190,000 Work in Process-Molding Transferred out Credit 17,000 Transferred out 764,000 122,000 85,000 764,000 981,000 Required: Prepare Journal entries showing the flow of costs through the two processing departments. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.

Name: Chocolaterie de Geneve, SA, is located in a French-speaking canton in
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Description: Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerland. The company makes chocolate truffles that aresold in popular embossed tins. The company has two processing departments-Cooking and Molding. In the Cooking Department,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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