Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $40,700 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials. (2) Direct labor costs of $17,000 are incurred, but not yet paid, in the Mixing Department. (3) Manufacturing overhead of $46,600 is applied in the Mixing Department using the department’s predetermined overhead rate. (4) Units with a carrying cost of $88,500 finish processing in the Mixing Department and are transferred to the Drying Department for further processing. (5) Units with a carrying cost of $112,200 finish processing in the Drying Department, the final step in the production process, and are transferred to the finished goods warehouse. (6) Finished goods with a carrying cost of $99,100 are sold. Required: Prepare journal entries for each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Bayas Corporation uses
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(1) Raw materials that cost $40,700 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials.
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(2) Direct labor costs of $17,000 are incurred, but not yet paid, in the Mixing Department.
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(3) Manufacturing
overhead of $46,600 is applied in the Mixing Department using the department’s predetermined overhead rate. -
(4) Units with a carrying cost of $88,500 finish processing in the Mixing Department and are transferred to the Drying Department for further processing.
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(5) Units with a carrying cost of $112,200 finish processing in the Drying Department, the final step in the production process, and are transferred to the finished goods warehouse.
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(6) Finished goods with a carrying cost of $99,100 are sold.
Required:
Prepare journal entries for each of the transactions listed above. (If no entry is required for a transaction/event, select "No
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