Question

Galvan Company has a production process that involves three processes. Units move through the processes in this order: cutting, stamping, and then polishing. The company had the following transactions in November:
• Cost of units completed in the Cutting Department, $19,000
• Cost of units completed in the Stamping Department, $23,000
• Cost of units completed in the Polishing Department, $39,000
• Sales on account, $20,000
• Cost of goods sold is 40% of sales
Prepare the journal entries for Galvan Company.


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  • CreatedJune 15, 2015
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