Ruth Company manufactures ZEBO through two processes: blending and bottling. - In June, raw materials used...
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Ruth Company manufactures ZEBO through two processes: blending and bottling. - In June, raw materials used were Blending $18,000 and Bottling $4,000. - Factory labor costs were Blending $12,000 and Bottling $5,000. - Manufacturing overhead costs assigned were Blending $6,000 and Bottling $2,500. - The company transfers units completed at a cost of $19,000 in the Blending Department to the Bottling Department. -The Bottling Department transfers units completed at a cost of $11,000 to Finished Goods. Journalize the assignment of these costs to the two processes and the transfer of units as appropriate as of June 30 Preparer Name: Company Name: Date Ref # DR DR DR DR DR Ruth Company Adjusting Journal Entry DR Account Name Account Name CR Account Name (Memo) Account Name Account Name DR Account Name DR Account Name CR Account Name (Memo) CR Account Name (Memo) Account Name CR Account Name Account Name (Memo) Account Name CR Account Name (Memo) Date: Debit $0.00 $0.00 Credit $0.00 T-Account View Date 1-Jun Date 1-Jun 22-Jun Date 1-Jun 22-Jun Debit $12,000 Debit Note: All beginning balances and those recorded on 6/22 are assumed for illustrative purposes. In homework, the debits and credits posted on a particular date may be presented in total. WIP-Blending WIP-Bottling Raw Materials $6,000 $27,000 Debit Credit Manufacturing Overhead Credit $1,200 $9,700 Credit Date 1-Jun Jun-31 Date 1-Jun 22-Jun Date 1-Jun Debit $9,000 Debit Factory Labor 50 $17,000 Debit Finished Goods $25,000 Credit Credit Credit Ruth Company manufactures ZEBO through two processes: blending and bottling. - In June, raw materials used were Blending $18,000 and Bottling $4,000. - Factory labor costs were Blending $12,000 and Bottling $5,000. - Manufacturing overhead costs assigned were Blending $6,000 and Bottling $2,500. - The company transfers units completed at a cost of $19,000 in the Blending Department to the Bottling Department. -The Bottling Department transfers units completed at a cost of $11,000 to Finished Goods. Journalize the assignment of these costs to the two processes and the transfer of units as appropriate as of June 30 Preparer Name: Company Name: Date Ref # DR DR DR DR DR Ruth Company Adjusting Journal Entry DR Account Name Account Name CR Account Name (Memo) Account Name Account Name DR Account Name DR Account Name CR Account Name (Memo) CR Account Name (Memo) Account Name CR Account Name Account Name (Memo) Account Name CR Account Name (Memo) Date: Debit $0.00 $0.00 Credit $0.00 T-Account View Date 1-Jun Date 1-Jun 22-Jun Date 1-Jun 22-Jun Debit $12,000 Debit Note: All beginning balances and those recorded on 6/22 are assumed for illustrative purposes. In homework, the debits and credits posted on a particular date may be presented in total. WIP-Blending WIP-Bottling Raw Materials $6,000 $27,000 Debit Credit Manufacturing Overhead Credit $1,200 $9,700 Credit Date 1-Jun Jun-31 Date 1-Jun 22-Jun Date 1-Jun Debit $9,000 Debit Factory Labor 50 $17,000 Debit Finished Goods $25,000 Credit Credit Credit
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Managerial Accounting Tools For Business Decision Making
ISBN: 9781119709589
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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