Entries for Flow of Factory Costs for Process Cost SystemRadford Inc. manufactures a sugar product by a continuousprocess, involving three production departments-Refining,Sifting, and Packing. Assume that records indicate thatdirect materials, direct labor, and applied factory overheadfor the first department, Refining, were $351,100,$122,900, and $80,800, respectively. Also, work in processin the Refining Department at the beginning of the periodtotaled $19,700, and work in process at the end of theperiod totaled $24,200.a. Journalize the entries to record the flow of costs intothe Refining Department during the period for (1) directmaterials, (2) direct labor, and (3) factory overhead. If anamount box does not require an entry, leave it blank.2.b. Journalize the entry to record the transfer of productioncosts to the second department, Sifting. If an amount boxdoes not require an entry, leave it blank.

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Description: Entries for Flow of Factory Costs for Process Cost SystemRadford Inc. manufactures a sugar product by a continuousprocess, involving three production departments-Refining,Sifting, and Packing. Assume that records indicate thatdirect materials, direc

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Entries for Flow of Factory Costs for Process C Radford Inc. manufactures a sugar product by process, involving three production departmen Sifting, and Packing. Assume that records indi direct materials, direct labor, and applied facto for the first department, Refining, were $351,1 $122,900, and $80,800, respectively. Also, wa in the Refining Department at the beginning of totaled $19,700, and work in process at the en period totaled $24.200

Entries for Flow of Factory Costs for Process C Radford Inc. manufactures a sugar product by process, involving three production departmen Sifting, and Packing. Assume that records indi direct materials, direct labor, and applied facto for the first department, Refining, were $351,1 $122,900, and $80,800, respectively. Also, wa in the Refining Department at the beginning of totaled $19,700, and work in process at the en period totaled $24.200

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $360,000, $147,000, and $96,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,000, and work in process at the end of the period totaled $28,200. Required: a. (1) On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct materials.* (2) On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct labor.* (3) On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for factory overhead.* b. On September 30, journalize the entry to record the transfer of…
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