Assume a company has two processing departmentsMolding and Packaging. Transactions for the month are shown as follows.
Question:
Assume a company has two processing departments—Molding and Packaging. Transactions for the month are shown as follows.
1. The Molding department requisitioned direct materials totaling $4,000 to be used in production.
2. Direct labor costs totaling $7,000 were incurred in the Molding department, to be paid the next month.
3. Manufacturing overhead costs applied to products in the Molding department totaled $5,000.
4. The cost of goods transferred from the Molding department to the Packaging department totaled $20,000.
5. Manufacturing overhead costs applied to products in the Packaging department totaled $3,600.
Required:
Prepare journal entries to record transactions 1 through 5.
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