1 answer

The cost of materials transferred into the Filling Department of Lilac Skin Care Company is $19,250, including $4,000 fr...

Question:

The cost of materials transferred into the Filling Department of Lilac Skin Care Company is $19,250, including $4,000 from the Blending Department and $15,250 from the materials storeroom. The conversion cost for the period in the Filling Department is $6,320 ($1,520 factory overhead applied and $4,800 direct labor). The total cost transferred to Finished Goods for the period was $24,930. The Filling Department had a beginning inventory of $2,700. Required: A. (1) On June 30, journalize the cost of transferred-in materials.* (2) On June 30, journalize the conversion costs.* (3) On June 30, journalize the costs transferred out to Finished Goods.* * Refer to the Chart of Accounts for exact wording of account titles. B. Determine the balance of Work in Process-Filling at the end of the period.


Answers

Ques 1
No. Account titles debit credit
a Work in process-filling 19250
work in procecss-blending 4000
materials 15250
b Work in process-filling 6320
Factory overhead-filling 1520
wages payable 4800
c finished goods 24930
   Work in process-filling 24930
Ques 2
Opeinng WIP 2700
Add:
Materials 19250
labor 6320
Less:
Tfd to FG 24930
Closing Wip 3340
.

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