Manufacturing data for June and July in the Blending Department of Laurence Liquids Inc. follow:

All materials are added at the start of the process. Labor and factory overhead are added evenly throughout the process. No units were in process at the beginning of June. Goods finished in Blending are transferred to Bottling for further processing.

Required:
1. From an analysis of this information, prepare a cost of production summary for each month, using the average cost method. (Round unit costs to three decimal places.)
2. Make the journal entries necessary to record each month's transactions.

Transcribed Image Text:

June July Materials used..e.www... $30,000 $25,200 $17,400 2,800 500 3/4 $43,400 $31,500 $29,600 3,600 400 1/4 Finished and transferred to Bottling Dept.......