90.2K

Verified Solution

Link Copied!

the top reads:

Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2017, inventories consisted of Raw Materials $26,000, Work in ProcessMixing $0, Work in ProcessPackaging $251,200, and Finished Goods $293,400. The beginning inventory for Packaging consisted of 14,900 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 52,700 units were started into production in the Mixing Department and the following transactions were completed.

1.		Purchased $304,800 of raw materials on account.
2.		Issued raw materials for production: Mixing $211,800 and Packaging $49,900.
3.		Incurred labor costs of $288,100.
4.		Used factory labor: Mixing $187,000 and Packaging $101,100.
5.		Incurred $917,100 of manufacturing overhead on account.
6.		Applied manufacturing overhead on the basis of $22 per machine hour. Machine hours were 31,600 in Mixing and 8,700 in Packaging.
7.		Transferred 46,700 units from Mixing to Packaging at a cost of $982,800.
8.		Transferred 55,800 units from Packaging to Finished Goods at a cost of $1,319,000.
9.		Sold goods costing $1,645,000 for $2,505,000 on account.

aging 52co, an . Furchased $304,800 of ra maeias on acccunt 2. sued an mateiasoprecuction Hiing $21180 and Radkagng $49,900. 4. Used fectory lser: Mxing s10,CC0 and Packaging $101,10c 5. Incured 917,C0 of manutacur ng ovenead n account. IJ, Tr.ered .gCIJ unts trom Padoging to Frvshed Gcods 5: cost of $1,319,000 9. Sold 2oods ccstrg ,645,000 tor sa,sos,coo on accounc. Io-malze te October transactions. (Credit account titles are automatically Indented when amount ls entered. Do not Indent manually.) No. Aecount Tities and Explanation To reccrd the sse) Ta reccrd the cost of goods soC

Answer & Explanation Solved by verified expert

See Answer