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Assignment/takeAssignmentMain.do?invoker-assignments&itakeAssignmentSessionLocator; assignment-take&inprogress-false; Calculator Chart of Accounts General Journal Instruction Zang Co. manufacturs its products in a continuous process involving two departments, Machining and Assembly. The following transactions are related to production during June (a) Materials purchased (on June 1) on account, $180,000. (b) Materials requisitioned by: Machining, $73,000 direct and $9,000 indirect materials, Assembly, $4,900 indirect materials. (c) Direct labor used by Machining, $23,000: Assembly, $47,000 (d) Depreciation expenses. Machining, $4,500, Assembly, $7.800. (e) Factory overhead applied Machining $9,700, Assembly, $11,300 (D) Machining Department transferred $98,300 to Assembly Department Assembly Department transferred $83,400 to finished goods (g) Sold goods on account, $100,000, cost of goods sold, 568,000 Required:

Explanation / Answer

Debit Credit a) Material $        180,000 Accounts Payable $        180,000 b) Work in process-Assembly $            4,900 Work in process-Machining $          82,000 Material c) Work in process-Assembly $          47,000 Work in process-Machining $          23,000 Wages Expenses $          70,000 d) Work in process-Assembly $            7,800 Work in process-Machining $            4,500 Depreciation Expenses $          12,300 e) Work in process-Assembly $          11,300 Work in process-Machining $            9,700 Factory Overhead-Assembly $          11,300 Factory Overhead-Machining $            9,700 f) Work in process-Assembly $          98,300 Work in process-Machining $          98,300 Finished Goods $          83,400 Work in process-Assembly $          83,400 g) Accounts receivable $        100,000 Sales $        100,000 Cost of goods sold $          68,000 Finished Goods $          68,000

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