Shidler College Of Business Operations And Supply Chain Management Assignment Help - Micro Labs Company
Question - Micro Labs Company produces house paint in two processing departments: the Mixing Department
which mixes the paint colors and the Finishing Department which puts the paint in containers and
labels them. The following information related to the companyâ€™s operation for October follows:
a) Raw materials were issued for use in production: Mixing department, $551,000, and the Finishing
b) Direct labor costs incurred: Mixing department $230,000, and Finishing department $270,000.
c) Manufacturing overhead cost applied: Mixing department $665,000, and Finishing department,
d) The cost of the mixed paint transferred from the Mixing department to the Finishing department
e) Paint that
had been prepared for shipping was transferred from the Finishing department to
Finished Goods. Cost of the transferred paint was $3,200,000.
Required: Prepare journal entries to record items a) through e) above. ...Read Less
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