The cost of materials transferred into the Bottling Department of Mountain Springs Water Company is $32,400, with $26,000 from the Purifying Department, plus an additional $6,400 from the materials storeroom. The conversion cost for the period in the Bottling Department is $8,750 ($3,750 factory applied and $5,000 direct labor). The total cost transferred to finished goods for the period was $31,980. The Bottling Department had a beginning inventory of $1,860. Required:
a. Journalize the entries to record the cost of transferred-in materials, conversion costs, and the cost transferred out to finished goods. Refer to the Chart of Accounts for exact wording of account titles.
b. Determine the balance of Work in Process-Bottling at the end of the period.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The cost of materials transferred into the Bottling Department of Mountain Springs Water Company is $32,400, with $26,000 from the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $6 par value common stock.
Answers (1)
In a make-or-buy decision, which costs can be considered relevant? Unavoidable variable costs, incremental fixed costs, and sunk costs. Incremental variable costs, unavoidable fixed costs, and opportunity costs.
Answers (1)
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $95,250;
Answers (1)
Isabella is a security support manager for a large enterprise. in a recent meeting, she was asked which of the standard networking devices already present on the network could be configured to supplement the specific network security hardware
Answers (1)
It costs Bonita Industries $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3100 scales at $15 each.
Answers (1)
New Questions in Business
You spend $5 on materials to make a scarf. You think you have added $10 of value, so you set the price to $15. Nobody buys the scarf at that price, so you lower the price to $12, and someone buys it.
Answers (2)
Katie needed to take out three loans. a) First, she paid $596.24 in interest on a nine-month loan for which the rate was 11%. How much money did she borrow? b) A year later, Katie borrowed $10,000 for three months.
Answers (1)
During the year, total liabilities increased $105,000 and stockholders' equity decreased $83,000. What is the amount of total assets at the end of the year?
Answers (1)
What is cosideration
Answers (1)
With the federal funds rate near zero and the economy still struggling, the Fed began buying 10-year Treasury notes and certain mortgage-backed securities to keep interest rates low. This policy is known as
Answers (1)