Prior Manufacturing Company

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Prior Manufacturing Company produces a product in 2 department 1) mixing 2) finishing. The company uses a process cost accounting system
a) Purchased raw materials for $50,000 on account
b) Raw material requisition for production were direct material
Mixing department $20,000
Finishing department 14,000
C) incurred labor used
Mixing labor 39,000
Finishing department 25,000
d)manufacturing overhead is applied to the product based on machine hours used in each department
e) mixing department-400 machine hour at $30 per machine hour
finishing department-500 machine hours at $20 per machine hour
f) Units costing 56,000 were completed in the mixing department and were transferred to the finishing department and were transferred to finished goods
h) finished goods costing $30,000 were sosld on account for 45,000
Prepare the journal entries to records the precedings transactions for prior Manufacturing Company.

    • 7 years ago
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