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P3-1B Buehler Company manufactures a nutrient, Everlife, through two manufacturing processes: Blending and Packaging. All materials are entered at...

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Are my journal entries correct? Please find the assignment attached. Thank you.
P3-1B Buehler Company manufactures a nutrient, Everlife, through two manufacturing processes: Blending and Packaging. All materials are entered at the beginning of each process. On August 1, 2011, inventories consisted of Raw Materials $5,000, Work in Process—Blending $0, Work in Process—Packaging $3,945, and Finished Goods $7,500. The beginning inventory for Packaging consisted of 500 units, two-fifths complete as to conversion costs and fully complete as to materials. During August, 9,000 units were started into production in Blending, and the following transactions were completed. 1. Purchased $25,000 of raw materials on account. 2. Issued raw materials for production: Blending $18,930 and Packaging $9,140. 3. Incurred labor costs of $23,770. 4. Used factory labor: Blending $13,320 and Packaging $10,450. 5. Incurred $41,500 of manufacturing overhead on account. 6. Applied manufacturing overhead at the rate of $25 per machine hour. Machine hours were Blending 900 and Packaging 300. 7. Transferred 8,200 units from Blending to Packaging at a cost of $44,940. 8. Transferred 8,600 units from Packaging to Finished Goods at a cost of $67,490. 9. Sold goods costing $62,000 for $90,000 on account. Instructions Journalize the August transactions. GENERAL JOURNAL P3-1B Account Titles & Explanation Debit Credit Aug-11 1 Raw Materials 25,000.00 Accounts Payable 25,000.00 2 WIP- Blending 18,930.00 WIP- Packaging 9,140.00 Raw Materials Inventory 28,070.00 3 & 4 WIP- Blending 13,320.00 WIP- Packaging 10,450.00 Factory Labor 23,770.00 5 Manufacturing Overhead 41,500.00 Accounts Payable 41,500.00 6 WIP- Blending 22,500.00 WIP- Packaging 7,500.00 Manufacturing Overhead 30,000.00 (To assign overhead to production) 7 WIP- Packaging 44,940.00 WIP- Blending 44,940.00
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8 Finished Goods 67,490.00 WIP- Packaging 67,490.00 9 COGS 62,000.00 Finished Goods 62,000.00 Accounts Receivable 90,000.00 Sales 90,000.00 BYP2-2 In the course of routine checking of all journal entries prior to preparing yearend reports, Diane Riser discovered several strange entries. She recalled that the president’s son Ron had come in to help out during an especially busy time and that he had recorded some journal entries. She was relieved that there were only a few of his entries, and even more relieved that he had included rather lengthy explanations. The entries Ron made were: 1. Work in Process Inventory 25,000 Cash 25,000 (This is for materials put into process. I don’t find the record
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All of your answers look quite correct. I did do... View the full answer

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P3-1B Buehler Company manufactures a nutrient, Everlife, through two manufacturing
processes: Blending and Packaging. All materials are entered at the beginning of each process.
On August 1, 2011,...

This question was asked on Mar 27, 2013 and answered on Mar 27, 2013.

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