Bayas Corporation uses process costing. A number of transactions that occurred in June are listed below. (1) Raw materials that cost $39,800 are withdrawn from the storeroom for use in the Mixing Department. All of these raw materials are classified as direct materials.
(2) Direct labor costs of $16,100 are incurred, but not yet paid, in the Mixing Department.
(3) Manufacturing overhead of $45,700 is applied in the Mixing Department using the department's predetermined overhead rate.
(4) Units with a carrying cost of $87,600 finish processing in the Mixing Department and are transferred to the Drying Department for further processing.
(5) Units with a carrying cost of $111,300 finish processing in the Drying Department, the final step in the production process, and are transferred to the finished goods warehouse.
(6) Finished goods with a carrying cost of $98,200 are sold.
Required:Prepare journal entries for each of the transactions listed above.
What will be an ideal response?
| (1) | Work in Process-Mixing Department | $ | 39,800 | ||
| Raw Materials | $ | 39,800 | |||
| (2) | Work in Process-Mixing Department | $ | 16,100 | ||
| Salaries and Wages Payable | $ | 16,100 | |||
| (3) | Work in Process-Mixing Department | $ | 45,700 | ||
| Manufacturing Overhead | $ | 45,700 | |||
| (4) | Work in Process-Drying Department | $ | 87,600 | ||
| Work in Process-Mixing Department | $ | 87,600 | |||
| (5) | Finished Goods | $ | 111,300 | ||
| Work in Process-Drying Department | $ | 111,300 | |||
| (6) | Cost of Goods Sold | $ | 98,200 | ||
| Finished Goods | $ | 98,200 | |||
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