Cost of production summary and journal entries Cost in Mixing . . . . . . .
Question:
Cost of production summary and journal entries
Cost in Mixing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,000
Cost in Blending:
Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200
Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
Factory overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300
The costs during the month were:
Cost of goods received from Mixing . . . . . . . . . . . . . . . . . . . . . . . . . . . . $78,000
Cost in Blending:
Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,328
Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Factory overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,672
1. For E5-10, prepare a cost of production summary for the month for Blending.
2. Prepare a journal entry to transfer the completed units from Blending to Finished Goods.
Step by Step Answer:
1 Cost of Production Summary Blending Department Cost of work in process beginning of month Cost in ...View the full answer
