ntries for flow of factery costs for process cost system Journal Domino Foods, I

Question

ntries for flow of factery costs for process cost system Journal Domino Foods, Inc., manufactures a sugar product by a continuous process, involving three production departments Refining, Siting, and Packing. Assume that records indicale that direct materials, direct labor, and applied faclory overhead for the irst department, Refining, were $338,000, $141,000, and $96,300, respectively. Also, work in process in the Retining Department at the beginning of the period totaled $29,800, and work in process at the end of the period totaled $30,000 Required: A. (1) On September 30, journalize the entry to record the low of costs into the Refining Department during the period for direct materials.. (2) on September 30, journalce the entry to record the nw of costs into the Refring Department during the period for direct labor . (3) On September 30, jounaize the entry to record the flow of costs into the Refining Department during the period for factory overhead B. On September 30, joumalize the entry to record the transfer of production costs to the second department, Siting" · Refer to the Chart of Accounts for exact wording of account tees. Chart of Accounts CHART OF ACCOUNTS Domino Foods, Inc. heck My Work for All work saved

Explanation / Answer

Journal Entries - Refining Department: Date Accounts Titles Debit$ Credit$ 30-Sep WIP Inventory 388000 Direct Material 388000 (being direct material applied to WIP Inventory) 30-Sep WIP Inventory 141000 Direct Labor 141000 (being direct labor applied to WIP Inventory) 30-Sep WIP Inventory 96800 Manufacturing Overhead 96800 (being direct labor applied to WIP Inventory) 30-Sep WIP - Sifting 625600 WIP Inventory 625600 (29800+388000+141000+96800-30000)

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