Zang Co. manufactures its products in a continuous process involving two departments, Machining and Assembly. Prepare journal entries to record the following transactions related to production during June: If an amount box does not require an entry, leave it blank. a.  Materials purchased on account, $180,000.     fill in the blank ebb198fb5044008_2         fill in the blank ebb198fb5044008_4 b.  Materials requisitioned by: Machining, $73,000 direct and $9,000 indirect materials; Assembly, $4,900 indirect materials.     fill in the blank bc86e1f3a046016_2 fill in the blank bc86e1f3a046016_3     fill in the blank bc86e1f3a046016_5 fill in the blank bc86e1f3a046016_6     fill in the blank bc86e1f3a046016_8 fill in the blank bc86e1f3a046016_9     fill in the blank bc86e1f3a046016_11 fill in the blank bc86e1f3a046016_12 c.  Direct labor used by Machining, $23,000; Assembly, $47,000.     fill in the blank e1ca5ffd1ff8fbf_2 fill in the blank e1ca5ffd1ff8fbf_3     fill in the blank e1ca5ffd1ff8fbf_5 fill in the blank e1ca5ffd1ff8fbf_6     fill in the blank e1ca5ffd1ff8fbf_8 fill in the blank e1ca5ffd1ff8fbf

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Zang Co. manufactures its products in a continuous process involving two departments, Machining and Assembly. Prepare journal entries to record the following transactions related to production during June:

If an amount box does not require an entry, leave it blank.

a.  Materials purchased on account, $180,000.

    fill in the blank ebb198fb5044008_2  
      fill in the blank ebb198fb5044008_4

b.  Materials requisitioned by: Machining, $73,000 direct and $9,000 indirect materials; Assembly, $4,900 indirect materials.

    fill in the blank bc86e1f3a046016_2 fill in the blank bc86e1f3a046016_3
    fill in the blank bc86e1f3a046016_5 fill in the blank bc86e1f3a046016_6
    fill in the blank bc86e1f3a046016_8 fill in the blank bc86e1f3a046016_9
    fill in the blank bc86e1f3a046016_11 fill in the blank bc86e1f3a046016_12

c.  Direct labor used by Machining, $23,000; Assembly, $47,000.

    fill in the blank e1ca5ffd1ff8fbf_2 fill in the blank e1ca5ffd1ff8fbf_3
    fill in the blank e1ca5ffd1ff8fbf_5 fill in the blank e1ca5ffd1ff8fbf_6
    fill in the blank e1ca5ffd1ff8fbf_8 fill in the blank e1ca5ffd1ff8fbf_9

d.  Depreciation expenses: Machining, $4,500; Assembly, $7,800.

    fill in the blank ccc30efb200bfbc_2 fill in the blank ccc30efb200bfbc_3
    fill in the blank ccc30efb200bfbc_5 fill in the blank ccc30efb200bfbc_6
    fill in the blank ccc30efb200bfbc_8 fill in the blank ccc30efb200bfbc_9

e.  Factory overhead applied: Machining, $9,700; Assembly, $11,300.

    fill in the blank 8b4a41fd8064fd5_2 fill in the blank 8b4a41fd8064fd5_3
    fill in the blank 8b4a41fd8064fd5_5 fill in the blank 8b4a41fd8064fd5_6
    fill in the blank 8b4a41fd8064fd5_8 fill in the blank 8b4a41fd8064fd5_9
    fill in the blank 8b4a41fd8064fd5_11 fill in the blank 8b4a41fd8064fd5_12

f.  Machining Department transferred $98,300 to Assembly Department; Assembly Department transferred $83,400 to finished goods.

    fill in the blank 292bd50bdf86fc1_2  
      fill in the blank 292bd50bdf86fc1_4
    fill in the blank 292bd50bdf86fc1_6  
      fill in the blank 292bd50bdf86fc1_8

g.  Sold goods on account, $100,000; cost of goods sold, $68,000.

    fill in the blank 478d9805cfb8f83_2  
      fill in the blank 478d9805cfb8f83_4
    fill in the blank 478d9805cfb8f83_6  
      fill in the blank 478d9805cfb8f83_8
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