Question: please help exercise 26-7 and 26-8 Learning Objective 8 Exercise 26-7 Check Figure (c) Cost of Goods Sold $395,000 (debit) Objective: To complete a process
Learning Objective 8 Exercise 26-7 Check Figure (c) Cost of Goods Sold $395,000 (debit) Objective: To complete a process cost accounting cycle Manor Corporation shows the following transactions: (a) Transferred units from Dept. A to Dept. B at a total cost of $480,000. (b) Transferred units from Dept. B to the finished goods stockroom at a cost of $560,000. (c) Sold goods costing $395,000 for $450,000 on credit. Directions: Record each transaction in a general journal. Learning Objective 7 Exercise 26-8 Objective: To complete a cost of production report Forbush Company's Assembly Department shows the following data for January 200 Check Figure Transfer to Finishing Department $75,000 2,000 Units started Units transferred to Finishing Dept. Units on hand, end of month Costs: Materials Labor 1,500 500 (% labor and overhead) $40,000 32,000 16,000 Overhead Directions: Prepare a cost of production report for the month of January 20xX
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