The following table of cost information is available for the Messier Company for the month of...

 

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The following table of cost information is available for the Messier Company for the month of November: Goods in Process Goods in Process Inventory - Inventory - Mixing Molding Beginning Inventory. Costs incurred: Direct materials........ Direct labor........ Overhead applied. Costs transferred out.. Costs transferred in........... Cost of goods sold Ending inventory.................. ****** ******** $12,000 22,000 32,000 47,000 (100,000) 13,000 $15,000 14,000 17,000 24,500 (152,000) 100,000 18,500 Finished Goods Inventory $24,000 152,000 (149,000) 27,000 Based on the table of cost information above, prepare the general journal entry required to record the: a. Transfer of goods from the molding department to the finished goods inventory. b. Cost of goods sold for November. The following table of cost information is available for the Messier Company for the month of November: Goods in Process Goods in Process Inventory - Inventory - Mixing Molding Beginning Inventory. Costs incurred: Direct materials........ Direct labor........ Overhead applied. Costs transferred out.. Costs transferred in........... Cost of goods sold Ending inventory.................. ****** ******** $12,000 22,000 32,000 47,000 (100,000) 13,000 $15,000 14,000 17,000 24,500 (152,000) 100,000 18,500 Finished Goods Inventory $24,000 152,000 (149,000) 27,000 Based on the table of cost information above, prepare the general journal entry required to record the: a. Transfer of goods from the molding department to the finished goods inventory. b. Cost of goods sold for November.

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Transaction Account A Finished Goods Inventory Ans... View the full answer