Answered: Warner Company purchases $ 50,000 of…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...

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Question

Warner Company purchases $ 50,000 of raw materials on account, and it incurs $ 60,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $ 24,000 of the raw materials and $ 35,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs.

Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles	Debit	Credit
Mar.31	enter an account title for the journal entry on March 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on March 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on March 31	enter a debit amount	enter a credit amount