Journalize M4 Engineering manufacturers its products in a continuous process involving two departments, Machining and Assembly

Journalize M4 Engineering manufacturers its products in a continuous process involving two departments, Machining and Assembly. Prepare journal entries to record the following transactions related to production during June: (a) Materials purchased on account, $250,000 (b) Depreciation expenses: Machining, $8,250; Assembly, $3,200 (c) Materials requisitioned by: Machining, $22,000 direct and $10,000 indirect materials; Assembly, $4,000 indirect materials (d) Factory overhead applied: Machining, $12,500; Assembly, $7,200 (e) Direct labor used by Machining, $15,500; Assembly, $8,500 (f) Machining Department transferred $22,200 to Assembly Department; Assembly Department transferred $18,200 to finished goods (g) Sold goods on account, $44,000; cost of goods sold, $18,000 GENERAL JOURNAL Description Page Credit Date Debit Post ref 1 2 3 - ???? 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 13 14 15 16 17 18 19
20 21 22 23 24 25 26 27 28 29 30 31 32. 33 34 35 36 20 21 22, 23 24 25 26 27 28. 29 30 31 32 33 34 35 36 Balance the following accounts: WIP - Machining WIP - Assembly Finished Goods T TT FOH - Machining FOH - Assembly Is FOH - Machining over-applied or under-applied? Is FOH – Assembly over-applied or under-applied?
Cost of Production The Blending Department of Manderlee Cosmetics had 10,200 units in work in process at the beginning of the period, which were 80% complete. During the period, 32,800 units were completed and transferred to the Packaging Department. There were 4,400 units in process at the end of the period, which were 25% complete. The Blending Department received 27,000 units of Direct Materials. Direct Materials are placed into process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. Use the table provided below. Whole Units Equivalent Units Direct Materials Conversion Units charged to production: Inventory in process, beginning Received from materials storeroom Total units accounted for by the Department complete) Units to be assigned cost: Inventory in process, beginning Started and completed Transferred Inventory in process, ending ( Total units to be assigned cost complete) The costs per equivalent unit of direct materials and conversion in the Mixing Department of Marvelous Marmalade Company are $2.00 and $8.00, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Started and completed during the period Transferred out of Filling (completed) Inventory in process, end of period Total units to be assigned cost Equivalent Units Direct Materials Conversion 0 5,000 12.800 12,800 12,800 17,800 6,000 2.200 18,800 20,000 The beginning work in process inventory had a cost of $40,000. Determine the cost of completed and transferred-out production and the ending work in process inventory. Use the table on the following page to complete
Inventory in process, beginning of period Started and completed during the period Transferred out of Filling (completed) Inventory in process, end of period Total units to be assigned cost Equivalent Units Direct Materials Conversion 0 5,000 12,800 12,800 12,800 17,800 6,000 2,200 18,800 20,000 The beginning work in process inventory had a cost of $40,000. Determine the cost of completed and transferred-out production and the ending work in process inventory. Use the table on the following page to complete
Costs Direct Materials Conversion Total Inventory in process, beginning To complete inventory in process, Cost of completed beginning work in process Started and completed Transferred Inventory in process, ending Total costs assigned by the Department