Reference no: EM133173824

Question - Sheridan Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2022, inventories consisted of Raw Materials $29,640, Work in Process-Mixing $0, Work in Process-Packaging $285,000, and Finished Goods $329,460. The beginning inventory for Packaging consisted of 11,400 units that were 50% as to conversion costs and fully done as to materials. During October, 57,000 units were started into production in the Mixing Department and the following transactions were done.

1. Purchased $342,000 of raw materials on account.

2. Issued direct materials for production: Mixing $239,400 and Packaging $51,300.

3. Incurred labor costs of $317,946. (Use Wages Payable.)

4. Used factory labor: Mixing $208,050 and Packaging $109,896.

5. Incurred $923,400 of manufacturing overhead on account.

6. Applied manufacturing overhead on the basis of $23 per machine hour. Machine hours were 31,920 in Mixing and 6,840 in Packaging.

7. Transferred 51,300 units from Mixing to Packaging at a cost of $1,116,060.

8. Completed and transferred 60,420 units from Packaging to Finished Goods at a cost of $1,499,100.

9. Sold goods costing $1,828,560 for $2,850,000 on account.

Required - Journalize the October transactions.