Answer and Explanation:
Journal Entries to record the flow of costs into the refining department
1.
Dr Work-in process - Refining Department $369,000
Cr Materials $369,000
2.
Dr Work-in process - Refining Department $146,000
Cr Wages Payable $146,000
3.
Dr Work-in process - Refining Department $97,600
Cr Factories Overhead - Refining Department $97,600
b. Entry to record the transfer of production costs to the second department
Dr Work-in process - Sifting Department $614,400
Cr Work-in process - Refining Department $614,400
Work-in process - Sifting Department [$30,200 + ($369,000 + $146,000 + $97,600) - $28,400]
=$30,200+($612,600-$28,400)
=$30,200+$584,200
=$614,400
