Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerland. The company makes chocolate truffles that are sold in popular embossed tins. The company has two processing departments-Cooking and Molding. In the Cooking Department, the raw ingredients for the truffles are mixed and then cooked in special candy-making vats. In the Molding Department, the melted chocolate and other ingredients from the Cooking Department are carefully poured into molds and decorative flourishes are applied. by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the flow of costs through the two departments in April: Work in Process-Cooking Debit Balance 4/1 Direct materials. Direct labor Overhead Direct labor Overhead Debit Balance 4/1 Transferred in Credit 8,000 Transferred out 333,000 257,000 185,000 Work in Process-Molding Credit 19,000 Transferred out 762,000 119,000 86,000 762,000 977,000 Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerland. The company makes chocolate truffles that are sold in popular embossed tins. The company has two processing departments-Cooking and Molding. In the Cooking Department, the raw ingredients for the truffles are mixed and then cooked in special candy-making vats. In the Molding Department, the melted chocolate and other ingredients from the Cooking Department are carefully poured into molds and decorative flourishes are applied. by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the flow of costs through the two departments in April: Work in Process-Cooking Debit Balance 4/1 Direct materials. Direct labor Overhead Direct labor Overhead Debit Balance 4/1 Transferred in Credit 8,000 Transferred out 333,000 257,000 185,000 Work in Process-Molding Credit 19,000 Transferred out 762,000 119,000 86,000 762,000 977,000 Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Name: Chocolaterie de Geneve, SA, is located in a French-speaking canton in
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Description: Chocolaterie de Geneve, SA, is located in a French-speaking canton in Switzerland. The company makes chocolate truffles that aresold in popular embossed tins. The company has two processing departments-Cooking and Molding. In the Cooking Department,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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