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Unit v question 15

Unit v question 15

FINANCIAL ACCOUNTING
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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Unit v question 15

Blue Spruce Industries uses a process cost system. Products are processed first by Department A and then by Department B before being transferred to the finished goods warehouse. Shown below is the cost information for DepartmentB during the month of October: Costs of units transferred in Manufacturing costs added in Department B. Direct materials Direct labor Manufacturing overhead 15,580 66,420 Total costs charged to Department B in October $113,980 The balance in work in process inventory in Department B at October 1is $20,500 and it is 524,600 at October 31. Prepare journal entries to record the following transactions for the month of October: (Credit account titles are automatically indented when the amountis entered. Do not indent manually. Record journal entries fr the order presented in the problem. List all debit entries before credit entries) The transfer of production from Department A to B. (E) b9) The manufacturing costs incurred by Department B. () The transfer of completed units from Department B to the finished goods warehouse. No. Account Titles and Explanation Credit (9) (2) e Textbook and Media List of Accounts Szve for Later Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:Blue Spruce Industries uses a process cost system. Products are processed first by Department A and then by Department B before being transferred to the finished goods warehouse. Shown below is the cost information for DepartmentB during the month of October: Costs of units transferred in Manufacturing costs added in Department B. Direct materials Direct labor Manufacturing overhead 15,580 66,420 Total costs charged to Department B in October $113,980 The balance in work in process inventory in Department B at October 1is $20,500 and it is 524,600 at October 31. Prepare journal entries to record the following transactions for the month of October: (Credit account titles are automatically indented when the amountis entered. Do not indent manually. Record journal entries fr the order presented in the problem. List all debit entries before credit entries) The transfer of production from Department A to B. (E) b9) The manufacturing costs incurred by Department B. () The transfer of completed units from Department B to the finished goods warehouse. No. Account Titles and Explanation Credit (9) (2) e Textbook and Media List of Accounts Szve for Later Attempts: 0 of 3 used Submit Answer
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