Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in proces at the end of the period totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is Oa. Work in Process-Department 3 490,000 Work in Process Department 2 490,000 Ob. Work in Process-Department 3 555,000 Work in Process-Department 2 555,000 Oc. 375,000 Work in Process-Department 3 Work in Process Department 2 375,000 Work in Process-Department 3 570,000 Work in Process Department 2 570,000 Od.

Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in proces at the end of the period totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is Oa. Work in Process-Department 3 490,000 Work in Process Department 2 490,000 Ob. Work in Process-Department 3 555,000 Work in Process-Department 2 555,000 Oc. 375,000 Work in Process-Department 3 Work in Process Department 2 375,000 Work in Process-Department 3 570,000 Work in Process Department 2 570,000 Od.

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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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