Ask Question
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.

+5
Answers (1)
  1. 15 February, 14:02
    0
    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)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “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 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers