Journal Entries Sharma Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning...
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Accounting
Journal Entries
Sharma Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of the year, there were no work-in-process or finished goods inventories. The following data are available for the month of July:
Department
Manufacturing Costs Added*
Ending Work in Process
Mixing
$80,410
$20,230
Encapsulating
78,560
19,990
Bottling
72,370
4,340
*Includes only the direct materials, direct labor, and the overhead used to process the partially finished goods received from the prior department. The transferred-in cost is not included.
Required:
Question Content Area
1. Prepare journal entries that show the transfer of costs (a) from Mixing to Encapsulating, (b) from Encapsulating to Bottling, and (c) from Bottling to finished goods inventory.
a.
MaterialsOverheadWork in Process-BottlingWork in Process-EncapsulatingWork in Process-Mixing
- Select -
Finished GoodsMaterialsWork in Process-BottlingWork in Process-EncapsulatingWork in Process-Mixing
- Select -
b.
Finished GoodsMaterialsWork in Process-BottlingWork in Process-EncapsulatingWork in Process-Mixing
- Select -
Finished GoodsMaterialsWork in Process-BottlingWork in Process-EncapsulatingWork in Process-Mixing
- Select -
c.
Finished GoodsWork in Process-BottlingWork in Process-EncapsulatingWork in Process-Mixing
- Select -
Finished GoodsWork in Process-BottlingWork in Process-EncapsulatingWork in Process-Mixing
- Select -
Question Content Area
2. Post the entries made in Requirement 1 into the T-accounts below. The costs added from the data provided have been entered in the T-accounts.
WIPMixing
80,410
fill in the blank 4ef7ca077fc5feb_1
20,230
WIPEncapsulating
fill in the blank 4ef7ca077fc5feb_2
fill in the blank 4ef7ca077fc5feb_3
78,560
19,990
WIPBottling
fill in the blank 4ef7ca077fc5feb_4
fill in the blank 4ef7ca077fc5feb_5
72,370
4,340
Finished Goods
fill in the blank 4ef7ca077fc5feb_6
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