Journal Entries Shorts Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of...

Journal Entries

Shorts Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of the year, there were no work-in-process or finished goods inventories. The following data are available for the month of July:

Department	Manufacturing Costs Added*	Ending Work in Process
Mixing	$89,700	$22,610
Encapsulating	75,520	17,530
Bottling	72,180	3,270

*Includes only the direct materials, direct labor, and the overhead used to process the partially finished goods received from the prior department. The transferred-in cost is not included.

Required:

1. Prepare journal entries that show the transfer of costs (a) from Mixing to Encapsulating, (b) from Encapsulating to Bottling, and (c) from Bottling to finished goods inventory.

a.

b.

c.

2. Post the entries made in Requirement 1 into the T-accounts below. The costs added from the data provided have been entered in the T-accounts.

WIP—Mixing
	89,700
	22,610

WIP—Encapsulating

	75,520
	17,530

WIP—Bottling

	72,180
	3,270

Finished Goods

Expert Solution

ekkarill92 answered 2 years ago

ournal Entries Shorts Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of...

ournal Entries Shorts Company has three process departments: Mixing, Encapsulating, and Bottling. At the beginning of the year, there were no work-in-process or finished goods inventories. The following data are available for the month of July: Department Manufacturing Costs Added* Ending Work in Process Mixing $83,270 $22,700 Encapsulating 75,160 18,130 Bottling 71,520 2,980 *Includes only the direct materials, direct labor, and the overhead used to process the partially finished goods received from the prior department. The transferred-in cost is not...

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking...

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 70% complete* 10,000 Units completed and transferred out 81,000 Units in process, July 31, 80% complete* 15,000 * With respect to conversion costs. 1. Prepare a physical flow schedule for July. 2. Prepare an...

Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted...

Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.): Production: Units in process, April 1, 60% complete 32,000 Units completed and transferred out 40,000 Units in process, April 30, 20% complete 7,500 Costs: WIP, April 1 $ 80,600 Costs added during April 131,050 Required: Prepare a production report for the...

Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling....

Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.): Production: Units in process, April 1, 60% complete 32,000 Units completed and transferred out 40,000 Units in process, April 30, 20% complete 6,000 Costs: WIP, April 1 $ 95,600 Costs added during April 118,640 Required: Prepare a...

The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 2,950...

The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 2,950 liters in beginning work in process inventory (30% complete). During the period 57,170 liters were completed. The ending work in process was 6,400 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process? equivalent units

Journal Entries for Credit Losses At the beginning of the year, Whitney Company had the following...

Journal Entries for Credit Losses At the beginning of the year, Whitney Company had the following accounts on its books: Accounts Receivable $154,000 Debit Allowance for Doubtful Accounts $7,900 Credit During the year, credit sales were: $1,133,000 and collections on account were: $1,120,000 The following transactions, among others, occurred during the year: Feb.17 Wrote off R. Lowell's account, $3,300 May.28 Wrote off G. Boyd's account, $2,100 Oct.13 Received $500 from G. Boyd, who is in bankruptcy proceedings, in final settlement...

3) Ego Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing,...

3) Ego Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the Refining Department had 2,000 gallons of partially processed product in production. During January, 33,000 gallons were transferred in from the Mixing Department, and 29,000 gallons were completed and transferred out. At the end of the month, there were 6,000 gallons of partially processed product remaining in the Refining Department. See additional details below. Refining Department, beginning balance...

Alberta Corp. (Alberta) manufactures hair shampoo using two departments: a mixing department and a bottling department....

Alberta Corp. (Alberta) manufactures hair shampoo using two departments: a mixing department and a bottling department. Shampoo manufacturing starts with the addition of all of the ingredients in the mixing department. Direct labour and overhead are added evenly throughout the month. Alberta uses the first-in, first-out method of process costing and provided the following information for the month of October. Beginning work-in-process (WIP) inventory in the mixing department consisted of 750 units that were 15% of the way through the...

In the Mixing Dept., the direct materials are added at the beginning of the process and...

In the Mixing Dept., the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process. Work in process of the mixing Dept. on March 1, 2018 consisted of 900 batches of crayons that were 60% of the way through the production process. The beginning balance in WIP Inventory - Mixng was $30,700 which consited of $11,500 in direct materias cost and $19,200 in conversion costs. During March, 4600 batches were...

1. The Crown Bottling Company has installed a new bottling process that will fill 12- ounce...

1. The Crown Bottling Company has installed a new bottling process that will fill 12- ounce bottles of Cola. Both overfilling and underfilling of bottles is undesirable. The company wishes to see whether the mean bottle fill, µ, is approximately the target of 12 ounces. The standard deviation of the process is such that σ=0.41. The company samples 32 bottles. Use a hypothesis test, at a 5% level of significance, and the sample mean to determine whether the filler should...

Question