n Oriole Company purchases $55,000 of raw materials on account, and it incurs $66,000 of factory labor

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Oriole Company purchases $55,000 of raw materials on account, and it incurs $66,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $26,400 of direct materials and $38,500 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Mar. 31 31 Account Titles and Explanation Work in Process - Finishing Work in Process - Assembly Manufacturing Overhead (To record materials used) (To assign factory labor to production) Debit Credit Oriole Company purchases $55,000 of raw materials on account, and it incurs $66,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $26,400 of direct materials and $38,500 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Mar. 31 31 Account Titles and Explanation Work in Process - Finishing Work in Process - Assembly Manufacturing Overhead (To record materials used) (To assign factory labor to production) Debit Credit

Answer rating: 100% (QA)

SOLUTION Heres the journal entry to assign the costs to the processing departments on March 31 Date ... View the full answer