FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor,
and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and
applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period.
In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period totaled $90,000. The journal
entry to record the flow of costs into Department 3 during the period is
a. Work in Process-Department 3
Work in Process Department 2
b. Work in Process-Department 3
Work in Process Department 2
OC. Work in Process Department 3
Work in Process-Department 2
Od. Work in Process-Department 3
Work in Process-Department 2
490,000
570,000
555,000
375,000
490,000
570,000
555,000
375,000
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Transcribed Image Text:Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is a. Work in Process-Department 3 Work in Process Department 2 b. Work in Process-Department 3 Work in Process Department 2 OC. Work in Process Department 3 Work in Process-Department 2 Od. Work in Process-Department 3 Work in Process-Department 2 490,000 570,000 555,000 375,000 490,000 570,000 555,000 375,000
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