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Exercise 4-8 Process Costing Journal Entries [LO1]...




Exercise 4-8 Process Costing Journal Entries [LO1] Schneider Brot is a bread-baking company located in Aachen, Germany, near the Dutch border. The company uses a process costing system for its single product?a popular pumpernickel bread. Schneider Brot has two processing departments?Mixing and Baking. The T-accounts below show the flow of costs through the two departments in April (all amounts are in the currency euros): Work in Process?Mixing -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Balance 4/1 10,000 Transferred out 760,000 Direct materials 330,000 Direct labor 260,000 Overhead 190,000 Work in Process?Baking -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Balance 4/1 20,000 Transferred out 980,000 Transferred in 760,000 Direct labor 120,000 Overhead 90,000 -------------------------------------------------------------------------------- Required: Prepare journal entries showing the flow of costs through the two processing departments during April. (Omit the "?" sign in your response.) General Journal Debit Credit Raw materials issued. (Click to select)Work in process-BakingRaw materials inventoryWork in process-MixingManufacturing overheadDirect laborFinished goodsCost of goods soldWages payable (Click to select)Work in process-BakingWages payableFinished goodsManufacturing overheadDirect laborWork in process-MixingCost of goods soldRaw materials inventory Direct labor incurred. (Click to select)Work in process-MixingCost of goods soldFinished goodsWages payableManufacturing overheadWork in process-BakingRaw materials inventoryDirect labor (Click to select)Work in process-BakingWages payableDirect laborFinished goodsManufacturing overheadCost of goods soldRaw materials inventoryWork in process-Mixing (Click to select)Manufacturing overheadCost of goods soldRaw materials inventoryWork in process-BakingDirect laborFinished goodsWages payableWork in process-Mixing Manufacturing overhead applied. (Click to select)Work in process-BakingWages payableManufacturing overheadWork in process-MixingDirect laborFinished goodsCost of goods soldRaw materials inventory (Click to select)Wages payableFinished goodsWork in process-MixingWork in process-BakingCost of goods soldManufacturing overheadRaw materials inventoryDirect labor (Click to select)Wages payableWork in process-BakingWork in process-MixingManufacturing overheadFinished goodsDirect laborRaw materials inventoryCost of goods sold Work completed in Mixing Department. (Click to select)Raw materials inventoryWork in process-BakingCost of goods soldWages payableFinished goodsDirect laborManufacturing overheadWork in process-Mixing (Click to select)Manufacturing overheadWork in process-MixingWork in process-BakingFinished goodsWages payableCost of goods soldRaw materials inventoryDirect labor Work completed in Baking Department. (Click to select)Raw materials inventoryWages payableWork in process-MixingFinished goodsManufacturing overheadCost of goods soldWork in process-BakingDirect labor (Click to select)Work in process-BakingWages payableRaw materials inventoryDirect laborCost of goods soldManufacturing overheadWork in process-MixingFinished goods


Paper#4601 | Written in 18-Jul-2015

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