Question: Gray Pharmaceuticals produces an anti-inflammatory medication. The medication requires three sequential processes: Mixing, Tableting, and Bottling. During the month of February, Gray produced 6,000 bottles
Complete the table below:
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Prepare the journal entries that correspond to all transfers; also prepare the journal entry for Bottling that reflects the costs added to the transferred-in costs received from Table ting:
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Mixing Process Tableting Process Bottling Process Direct materials $775 S1,670 $4,230 Direct labor 1,145 1,145 2,040 Applied overhead 1,675 2,345 2,035 Costs added $4,490 $8,615 Costs transferred in Costs transferred out %24 %24 Account Debit Credit Transfer Entries: Work in Process-- Select your answer -Mixing Table ting Item 7 8,615 Work in Process- Select your answer -Mixing Table ting Item 8 8,615 Work in Process- Select your answer -Table ting Bottling Item 9 12,570 Work in Process- Select your answer -Table ting Bottling Item 10 12,570 Finished Goods 17,060 Work in Process- Select your answer -Table ting Bottling Item 11 17,060 Cost-added entry: Work in Process-Bottling Materials Payroll Overhead Control
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