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Make a process costing journal entries

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Reference no: EM132536068

Process Costing Journal Entries.

Assume a company has two processing departments-Molding and Packaging. Transactions for the month are shown as follows.

  1. The Molding department requisitioned direct materials totaling $2,000 to be used in production.
  2. Direct labor costs totaling $3,500 were incurred in the Molding department, to be paid the next month.
  3. Manufacturing overhead costs applied to products in the Molding department totaled $2,500.
  4. The cost of goods transferred from the Molding department to the Packaging department totaled $10,000.
  5. Manufacturing overhead costs applied to products in the Packaging department totaled $1,800.

Required:

Question 1: Prepare journal entries to record transactions 1 through 5.

Reference no: EM132536068

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