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Harrelson Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials and conversion costs are incurred evenly throughout the process. For the month of April, the work in process accounts show the following debits.
Cooking
Canning
Journalize the April transactions. (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.)
(To assign overhead to production.)
(To record costs transferred in.)
How much gain does Lee realize and recognize as a result of these transfers?
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