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Journalize the entries to record the operations

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Reference no: EM131209382

Entries for Process Cost System

Cincinnati Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where the packaging is added at the beginning of the process. On July 1, Cincinnati Soap Company had the following inventories:

Finished Goods

$13,650

Work in Process-Making

5,310

Work in Process-Packing

6,920

Materials

3,000

Departmental accounts are maintained for factory overhead, which both have zero balances on July 1.

Manufacturing operations for July are summarized as follows:

a.

Materials purchased on account

$170,050

b.

Materials requisitioned for use

 

 

Phosphate-Making Department

$112,330

 

 

Packaging-Packing Department

39,070

 

 

Indirect materials-Making Department

4,400

 

 

Indirect materials-Packing Department

1,580

c.

Labor used

 

 

Direct labor-Making Department

$80,250

 

 

Direct labor-Packing Department

54,170

 

 

Indirect labor-Making Department

15,540

 

 

Indirect labor-Packing Department

27,860

d.

Depreciation charged on fixed assets

 

 

Making Department

$14,650

 

 

Packing Department

12,100

e.

Expired prepaid factory insurance

 

 

Making Department

$2,780

 

 

Packing Department

1,110

f.

Applied factory overhead

 

 

Making Department

$38,300

 

 

Packing Department

42,310

g.

Production costs transferred from Making Department to Packing Department

$231,550

h.

Production costs transferred from Packing Department to Finished Goods

$364,410

i.

Cost of goods sold during the period

$365,750

Required:

1. Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank.

Reference no: EM131209382

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