Solution-Prepare journal entries showing the folw of costs

Prepare journal entries showing the folw of costs

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Reference no: EM131777726

Process costing Journal Entry:

The Geneve Chocolate company is located in French Speaking Switzerland. The company makes truffles that are sold in propular embossed tins. The company has 2 processing departments-Cooking and Molding. In the cooking Department the raw ingriedients for the truffles are mixed and cooked on special candy making vats. In the molding Department the melted chocolate and other ingridients from the cooking department are carefully poured into molds and decorative flourishes are applied by hand. After cooling, the truffles are packed for sale. The company uses a process costing system. The T-accounts below show the flow of costs through the two departments in April (all amounts are in Swiss francs)

		Work in Process-Cooking
Balance 4/1	6000	Transferred out 160000
Direct Materials	42000
Direct Labors	50000
Overhead	75000


		Work in Process-Molding
Balance 4/1	4000	Transferred out 240000
Transferred in	160000
Direct Labors	36000
Overhead	45000

Prepare journal entries showing the folw of costs through the two processing departments during April.

Reference no: EM131777726

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Prepare journal entries showing the folw of costs

Reference no: EM131777726

Reference no: EM131777726

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