Cincinnati Soap Company manufactures powdered detergent. Phosphate is placed in

Question

Cincinnati Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where the packaging is added at the beginning of the process. On July 1, Cincinnati Soap Company had the following inventories:

Departmental accounts are maintained for factory overhead, which both have zero balances on July 1.

Manufacturing operations for July are summarized as follows:

Required:

1. Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank.

2. Compute the July 31 balances of the inventory accounts.

3. Compute the July 31 balances of the factory overhead accounts. If required, use the minus sign to indicate a credit balance.

Finished Goods $18,940 Work in Process—Making 7,360 Work in Process—Packing 9,590 Materials 4,160

Explanation / Answer

1. Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank.

2. Compute the July 31 balances of the inventory accounts.

Working

3. Compute the July 31 balances of the factory overhead accounts. If required, use the minus sign to indicate a credit balance.

working

Note : Please ask in accounting subject, it is the question of accounts. Please ask in appropriate subject

No Account Titles and Explanation Debit Credit a Raw Material 235930 Accounts Payable 235930 b Work in Process—Making Department 155850 Work in Process—Packing Department 54210 Factory Overhead—Making Department 6100 Factory Overhead—Packing Department 2190 Raw Material 218350 c Work in Process—Making Department 111340 Work in Process—Packing Department 75150 Factory Overhead—Making Department 21560 Factory Overhead—Packing Department 38650 Wages Payable 246700 d Factory Overhead—Making Department 21560 Factory Overhead—Packing Department 38650 Accumulated Depreciation 60210 e Factory Overhead—Making Department 20330 Factory Overhead—Packing Department 16790 Prepaid Expenses 37120 f Work in Process—Making Department 53130 Work in Process—Packing Department 58700 Factory Overhead—Making Department 53130 Factory Overhead—Packing Department 58700 g Work in Process—Packing Department 321240 Work in Process—Making Department 321240 h Finished Goods 505,580 Work in Process—Packing Department 505,580 i Cost of Good Sold 507430 Finished Goods 507430

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