Record the Following Process Costing Transactions in the General Journal

question 288

Essay

Record the following process costing transactions in the general journal:
a. Purchase of raw materials on account, $72,000
b. Requisition of direct materials to:
Assembly Department, $21,000
Finishing Department, $12,000
c. Incurrence and payment of manufacturing labour, $68,500
d. Incurrence of manufacturing overhead costs:
Property taxes-plant, $16,000
Utilities-plant, $36,000
Insurance-plant, $8,500
Depreciation-plant, $27,500
e. Assignment of conversion costs to the Assembly Department:
Direct labour, $40,000
Manufacturing overhead, $24,500
f. Assignment of conversion costs to the Finishing Department:
Direct labour, $34,000
Manufacturing overhead, $48,000
g. Cost of goods completed and transferred out of the Assembly Department to the Finishing Department, $82,000
h. Cost of goods completed and transferred out of the Finishing Department into Finished Goods Inventory, $125,000

---

Definitions:

Nausea and Vomiting

Common symptoms that can be a result of various conditions, leading to discomfort and a feeling of unease in the stomach with an urge to vomit.

Chemotherapy

A type of cancer treatment that uses drugs to kill or stop the growth of cancer cells.

Wilms Tumor

A type of cancer that primarily affects the kidneys of young children.

Abdominal Swelling

An increase in the size or bulge of the abdomen, which can be due to various medical conditions including gas, fluid accumulation, or organ enlargement.