Record the following process costing transactions in the general journal a. Purchase of raw materials on account, $9,000
b. Requisition of direct materials to Assembly Department, $4,200 Finishing Department, $2,400
c. ncurrence and payment of direct labor, $10,800. (Assume all c labor is for the Assembly Department.)
d. Incurrence of manufacturing overhead costs: Property taxes ant, $1,700 Utilities-plant, $4,800 Insurance plant, $1,100 Depreciation plant, $3,900
e. Assignment of conversion costs to the Assembly Department: Direct labor, $4,700 Manufacturing overhead, $2,100
f. Assignment of conversion costs to the Finishing Department: Direct labor, $4,400 Manufacturing overhead, $6,300
g. Cost of goods completed and transferred out of the Assembly department to the finished goods depatment 10300
h. Cost of goods completed and transferred out of the finished goods depatment tp finished goods inventory 15100

a.Dr Raw Materials Inventory 9,000

Accounts Payable 9,000

b. Dr Work in Process Inventory-Assembly 4,200

Cr Raw Materials Inventory 4,200

Dr Work in Process Inventory-Finishing2,400

Cr Raw Materials Inventory 2,400

c.Dr Work in Process Inventory-Assembly10,800

Cr Cash10,800

d.Dr Manufacturing Overhead 11,200

Cr Property Taxes Payable-Plant 1,700

Cr Utilities Payable 4,800

Cr Prepaid Insurance-Plant 1,100

Cr Accumulated Depreciation-Plant 3,600

e.Dr Work in Process Inventory-Assembly 6,800

Cr Wages Payable 4,700

Cr Manufacturing Overhead 2,100

f.Work in Process Inventory-Finishing 10,700

Cr Wages Payable 4,400

Cr Manufacturing Overhead 6,300

g.Dr Work in Process Inventory-Finishing 10,300

Cr Work in Process Inventory-Assembly10,300

h.Dr Finished Goods Inventory15,100

Cr Work in Process Inventory-Finishing15,100

Explanation:

To Record process costing transactions in the general journal

a. Based on the information given we were told that the Purchase of raw materials of the amount of $9,000 was made which means that the transaction will be recorded as:

Dr Raw Materials Inventory 9,000

Accounts Payable 9,000

b. Based on the information given we were told that the Requisition of direct materials to Assembly Department was the amount of $4,200 while the Finishing Department amount was $2,400 which means that the transaction will be recorded as:

Dr Work in Process Inventory-Assembly 4,200

Cr Raw Materials Inventory 4,200

Dr Work in Process Inventory-Finishing 2,400

Cr Raw Materials Inventory2,400

c. Based on the information given we were told that payment of direct labor was the amount of $10,800 which means that the Journal entry will be:

Dr Work in Process Inventory-Assembly 10,800

Cr Cash10,800

d. Journal entry to record the incurrence of manufacturing overhead costs

Dr Manufacturing Overhead 11,200

(1,700+4,800+1,100+3,600)

Cr Property Taxes Payable-Plant 1,700

Cr Utilities Payable 4,800

Cr Prepaid Insurance-Plant 1,100

Cr Accumulated Depreciation-Plant 3,600

e. Based on the information given we were told that the conversion costs to the Assembly Department include both Direct labor of the amount of $4,700 and Manufacturing overhead of the amount of $2,100 which means that the Journal entry will be:

Dr Work in Process Inventory-Assembly 6,800

(4,700+2,100)

Cr Wages Payable 4,700

Cr Manufacturing Overhead 2,100

f. Based on the information given we were told that conversion costs to the Finishing Department were: Direct labor, $4,400 Manufacturing overhead, $6,300, which means that the transaction will be recorded as:

Work in Process Inventory-Finishing10,700

(6,300+4,400)

Cr Wages Payable4,400

Cr Manufacturing Overhead6,300

g. Based on the information given we were told that the Cost of goods that was completed and transferred out of the Assembly department to the finished goods depatment was the amount of 10,300 which means that the transaction will be recorded as:

Dr Work in Process Inventory-Finishing 10,300

Cr Work in Process Inventory-Assembly10,300

h. Based on the information given we were told that the Cost of goods that was completed and transferred out of the finished goods depatment to finished goods inventory was the amount of 15,100 which means that the Journal entry will be:

Dr Finished Goods Inventory 15,100

Cr Work in Process Inventory-Finishing15,100

answer; someone must cover the cost associated with the provision of scarce goods in both sectors;

answer; dividing net income by 1- t ;