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15 February, 10:34

During May, the Casting Department was charged $633,600 for 6,600 pounds of alloy and $53,520 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 6,800 pounds of finished castings to the Machining Department. The May 31 inventory in process was 20% complete as to conversion. a1. Prepare the May journal entry for the Casting Department for the materials charged to production.

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  1. 15 February, 14:02
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    Work - In - Process: Casting Department $633,600 (debit)

    Material $633,600 (credit)

    Explanation:

    Accumulate the Materials cost in Casting Department Work - In - Process Account and de-recognise the Materials Account as a result of the requisition.

    Journal to record Materials Charged to Casting Department

    Work - In - Process: Casting Department $633,600 (debit)

    Material $633,600 (credit)
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Home » Business » During May, the Casting Department was charged $633,600 for 6,600 pounds of alloy and $53,520 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor.
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