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Process cost journal entries The cost of materials transferred into the Filling Department of Eve Cosmetics Company is $20,000, including $14,000 from the Blending Department and $6,000 from the materials storeroom. The conversion cost for the period in the Filling Department is $4,560 ($1,600 factor)' overhead applied and $2,960 direct labor). The total cost transferred to Finished Goods for the period was $22,960. The Filling Department had a beginning inventory of $1,800. a. Journalize (1) the cost of transferred-in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods. b. Determine the balance of Work in Process—Filling at the end of the period.

BuyFind

Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094
BuyFind

Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094

Solutions

Chapter
Section
Chapter 20, Problem 20.7APE
Textbook Problem

Process cost journal entries

The cost of materials transferred into the Filling Department of Eve Cosmetics Company is $20,000, including $14,000 from the Blending Department and $6,000 from the materials storeroom. The conversion cost for the period in the Filling Department is $4,560 ($1,600 factor)' overhead applied and $2,960 direct labor). The total cost transferred to Finished Goods for the period was $22,960. The Filling Department had a beginning inventory of $1,800.

a. Journalize (1) the cost of transferred-in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods.

b. Determine the balance of Work in Process—Filling at the end of the period.

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Chapter 20 Solutions

Accounting
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Ch. 20 - Job order versus process costing Which of the...Ch. 20 - Job order versus process costing Which of the...Ch. 20 - Units to be assigned costs Eve Cosmetics Company...Ch. 20 - Units to be assigned costs Keystone Steel Company...Ch. 20 - Equivalent units of materials cost The Filling...Ch. 20 - Equivalent units of materials cost The Rolling...Ch. 20 - Equivalent units of conversion costs The Filling...Ch. 20 - Equivalent units of conversion costs The Rolling...Ch. 20 - Cost per equivalent unit The cost of direct...Ch. 20 - Cost per equivalent unit The cast of direct...Ch. 20 - Cost of units transferred out and ending work in...Ch. 20 - Cost of units transferred out and ending work in...Ch. 20 - Process cost journal entries The cost of materials...Ch. 20 - Process cost journal entries The cost of materials...Ch. 20 - Using process costs for decision making The costs...Ch. 20 - Using process costs for decision making The costs...Ch. 20 - Entries for materials cost flows in a process cost...Ch. 20 - Flowchart of accounts related to service and...Ch. 20 - Entries for flow of factory costs for process cost...Ch. 20 - Factory overhead rate, entry for applying factory...Ch. 20 - Equivalent units of production The Converting...Ch. 20 - Equivalent units of production Units of production...Ch. 20 - Equivalent units of production The following...Ch. 20 - Costs per equivalent unit a. Based on the data in...Ch. 20 - Equivalent units of production Kellogg Company...Ch. 20 - Costs per equivalent unit Georgia Products Inc....Ch. 20 - Equivalent units of production and related costs...Ch. 20 - Cost of units completed and in process a. Based on...Ch. 20 - Errors in equivalent unit computation Napco...Ch. 20 - Cost per equivalent unit The following information...Ch. 20 - Costs per equivalent unit and production costs...Ch. 20 - Cost of production report The debits to Work in...Ch. 20 - Cost of production report The Culling Department...Ch. 20 - Cost of production and journal entries AccuBlade...Ch. 20 - Cost of production and journal entries Lighthouse...Ch. 20 - Process costing for a service company Madison...Ch. 20 - Decision making Mystic Bottling Company bottles...Ch. 20 - Decision making Fix Paper Inc. produces...Ch. 20 - Lean manufacturing The following are some quotes...Ch. 20 - Equivalent units of production: average cost...Ch. 20 - Equivalent units of production: average cost...Ch. 20 - Equivalent units of production: average cost...Ch. 20 - Equivalent units of production and related costs...Ch. 20 - Cost per equivalent unit: average cost method The...Ch. 20 - Cost of production report: average cost method The...Ch. 20 - Cost of production report: average cost method...Ch. 20 - Entries for process cost system Pori Ormond Carpel...Ch. 20 - Cost of production report Arabica Highland Coffee...Ch. 20 - Equivalent units and related costs; cost of...Ch. 20 - Work in process account data for two months; cost...Ch. 20 - Cost of production report: average cost method...Ch. 20 - Entries for process cost system Preston Grover...Ch. 20 - Cost of production report Bavarian Chocolate...Ch. 20 - Equivalent units and related costs; cost of...Ch. 20 - Work in process account data for two months; cost...Ch. 20 - Cost of production report: average cost method...Ch. 20 - Ethics in Action Assume that you are the division...Ch. 20 - Communication Jamarcus Bradshaw, plant, manager of...Ch. 20 - Accounting for materials costs In papermaking...Ch. 20 - Analyzing unit costs Midstate Containers Inc....

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