Chapter 18 Written Assignmentl.pdf

Chapter 18 Written Assignmentl.pdf - Accounting 1B Written...

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Accounting 1B Written Assignment Chapter 18 – Process Cost Systems M. Baker Page 1 Instructions: 1. Print this Document 2. Write your name at the top 3. Complete the assignment by hand 4. Scan the completed assignments 5. Submit the assignment though Canvas Zippo Co. 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, $200,000 (b) Materials requisitioned by: Machining, $82,000 direct and $5,000 indirect materials; Assembly, $2,900 indirect materials (c) Direct labor used by Machining, $30,000; Assembly, $47,000 (d) Depreciation expenses: Machining, $6,500; Assembly, $2,300 (e) Factory overhead applied: Machining, $8,700; Assembly, $12,200 (f) Machining Department transferred $69,300 to Assembly Department; Assembly Department transferred $65,400 to finished goods (g) Sold goods on account, $80,000; cost of goods sold, $60,000 GENERAL JOURNAL Page Date Description Post ref Debit Credit 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19
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  • Spring '18
  • Maureen Baker
  • Accounting, Conversion of units

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