Fanning Cola Corporation produces a new soft drink brand, Sweet
Spring, using two production departments: mixing and bottling.
Fanning’s beginning balances and data pertinent to the mixing
department’s activities for 2018 follow:
Accounts
Beginning Balances
Cash
$
46,000
Raw materials inventory
14,700
Production supplies
100
Work in process inventory (390,000 units)
46,800
Common stock
$
109,800
Fanning Cola issued additional common stock for $55,000
cash.
The company purchased raw materials and production supplies for
$30,390 and $700, respectively, in cash....