Record the following process costing transactions in the general journal: a. Purchase of raw materials on account,
Question:
Record the following process costing transactions in the general journal:
a. Purchase of raw materials on account, $9,900
b. Requisition of direct materials to:
Assembly Department, $4,500
Finishing Department, $2,200
c. Incurrence and payment of manufacturing labor, $10,900 (these costs should be debited to WIP Inventory-Assembly)
d. Incurrence of manufacturing overhead costs (unpaid):
Property taxes-plant, $1,200
Utilities-plant, $4,300
Insurance-plant, $1,000
Depreciation-plant, $3,600
e. Assignment of conversion costs to the Assembly Department:
Direct labor, $5,200
Manufacturing overhead, $2,200
f. Assignment of conversion costs to the Finishing Department:
Direct labor, $4,400
Manufacturing overhead, $6,400
g. Cost of goods completed and transferred out of the Assembly Department to the Finishing Department, $10,200
h. Cost of goods completed and transferred out of the Finishing Department into Finished Goods Inventory, $15,600
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