Journal Entries for Managerial Accounting
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Turner Manufacturing purchases $60,170 of raw materials on account, and it incurs $40,160 of factory labour costs. Supporting records show that (a) the Assembly Department used $24,150 of raw materials and $29,860 of the factory labour, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on May 31.
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The solution explains the journal entries for the given transactions.
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(a) the Assembly Department used $24,150 of raw materials and $29,860 of the factory labour
Work in Process-Assembly Dr ...
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