Answer and Explanation:
The Journal entry is shown below:-
a. Material Inventory Dr, $180,000
To Accounts Payable $180,000
(Being Material Purchased is recorded)
b. Work in progress Machining Dept. Dr, $73,000
Manufacturing Overheads Machining Dept. Dr, $9,000
Manufacturing Overheads Assembly Dept. Dr, $4,900
To Material Inventory $86,900
(Being Material issued to department is recorded)
c. Work in progress Machining Dept. Dr, $23,000
Work in progress Assembly Dept. $47,000
To Wages Payable $70,000
(Being Direct Labor used is recorded)
d. Manufacturing Overheads Machining Dept. Dr, $4,500
Man. Overheads Assembly Dept. Dr, $7,800
To Depreciation Expense $12,300
(Being Depreciation allocated is recorded)
e. Work in progress Machining Dept. Dr, $9,700
Work in progress Assembly Dept. Dr, $11,300
To Manufacturing Overheads Machining Dept. $9,700
To Manufacturing Overheads Assembly Dept. $11,300
(Being Factory overheads applied is recorded)
f. Work in progress Assembly Dept. Dr, $98,300
To Work in progress Machining Dept. $98,300
(Being WIP Transferred is recorded)
Finished Goods Inventory Dr, $83,400
To Work in progress Assembly Dept. $83,400
(Being Finished goods transferred is recorded)
g. Accounts Receivables Dr, $100,000
To Sales $100,000
(Being Goods sold on account is recorded)
Cost of Goods sold Dr, $68,000
To Finished Goods Inventory $68,000
(Being Goods sold is recorded)
