Hh Module 1-30691202003 * My Home CengageNOWv2 | Online teachir x Cengage Learning v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3Dfalse Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $585,800, $205,000, and $134,700, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,800, and work in process at the end of the period totaled $40,400. a. Journalize the entries to record the flow of costs into the Refining Department during the perlod for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank. Work In Process-Refining Department 1. 585,800 V Materials 585,800 Work in Process-Refining Department 205000 2. Feedback GO V.Check My Work Remember that in this department both materials and conversion costs are being added to the units before they are transferred out. Previous Next Check My Work 1 more Check My Work uses remaining. items P 4:26 3.
Hh Module 1-30691202003 * My Home CengageNOWv2 | Online teachir x Cengage Learning v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3Dfalse Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $585,800, $205,000, and $134,700, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,800, and work in process at the end of the period totaled $40,400. a. Journalize the entries to record the flow of costs into the Refining Department during the perlod for (1) direct materials, (2) direct labor, and (3) factory overhead. If an amount box does not require an entry, leave it blank. Work In Process-Refining Department 1. 585,800 V Materials 585,800 Work in Process-Refining Department 205000 2. Feedback GO V.Check My Work Remember that in this department both materials and conversion costs are being added to the units before they are transferred out. Previous Next Check My Work 1 more Check My Work uses remaining. items P 4:26 3.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Hh Module 1-30691202003
* My Home
CengageNOWv2 | Online teachir x
Cengage Learning
v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3Dfalse
Entries for Flow of Factory Costs for Process Cost System
Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that
records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $585,800, $205,000, and $134,700,
respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,800, and work in process at the end of the period
totaled $40,400.
a. Journalize the entries to record the flow of costs into the Refining Department during the perlod for (1) direct materials, (2) direct labor, and (3) factory
overhead. If an amount box does not require an entry, leave it blank.
Work In Process-Refining Department
1.
585,800 V
Materials
585,800
Work in Process-Refining Department
205000
2.
Feedback
GO
V.Check My Work
Remember that in this department both materials and conversion costs are being added to the units before they are transferred out.
Previous
Next
Check My Work 1 more Check My Work uses remaining.
items
P 4:26
3.
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