Answer:
a.
Raw Materials $9,300 (debit)
Account Payable $9,300 (credit)
b.
Assembly Department $4,300 (debit)
Finishing Department $2,400 (debit)
Raw Materials $6,700 (credit)
c.
WIP Inventory-Assembly $10,500 (debit)
Cash $10,500 (credit)
d.
Overheads $12,100 (debit)
Property taxes-plant: Payable $1, 800 (credit)
Utilities-plant : Payable $4, 800 (credit)
Insurance-plant : Payable, $1, 700 (credit)
Provision for Depreciation-plant, $3, 800 (credit)
e.
Work In Process - Assembly Department $7,600 (debit)
Direct labor, $5, 000 (credit)
Manufacturing overhead, $2, 600 (credit)
f.
Work In Process - Finishing Department $11,300 (debit)
Direct labor, $4,700 (credit)
Manufacturing overhead, $6,600 (credit)
g.
Finishing Department, $10,500 (debit)
Assembly Department $10,500 (credit)
h.
Finished Goods Inventory $15,600 (debit)
Finishing Department $15,600 (credit)
Explanation:
Manufacturing costs accumulate in the Work In Process Account of their respective departments.
When goods are transferred out of the Assembly Department to the Finishing Department, de-recognize the cost from Assembly Department (credit) and recognized the cost in Finishing Department (debit).
When cost of goods completed are transferred out of the Finishing Department into Finished Goods Inventory, we de-recognize the cost from Finishing Department and recognize it in the Finished Goods Inventory.
