In December, Davis Company had the following cost flows: Required: 1. Prepare the journal entries to transfer

Question:

In December, Davis Company had the following cost flows:

Required:
1. Prepare the journal entries to transfer costs from
(a) Molding to Grinding,
(b) Grinding to Finishing,
(c) Finishing to Finished Goods.
2. Explain how the journal entries differ from a job-order cost system.

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Cornerstones of Managerial Accounting

ISBN: 978-1305103962

6th edition

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

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Question Posted: Aug 25, 2016 08:20 AM

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In December, Davis Company had the following cost flows: Required: 1. Prepare the journal entries to transfer

Question:

Molding Grinding Department S 30,000 13.600 60.400 Finishing Department S 17,200 11.600 11,200 Department Direct materials Direct labor Applied overhead Transferred-in cost: $111,600 8,000 8,400 From Molding From Grinding 128,000 232,000 $272.000 Total cost $128,000 S232.000

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Cornerstones of Managerial Accounting

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