79) Josef Company makes a variety of chemicals. Its Mixing department had the following information regarding costs and output:
Started and completed35,000 units
Started and still in process*12,500 units
Direct labour$ 21,700
Factory overhead$ 86,800
*Direct materials: 100 percent complete; Conversion costs: 30 percent complete
Required: Compute the cost of work completed and the cost of the ending WIP inventory.
80) The manufacturing costs of the Assembly department for the month of June are as follows:
Direct materials added$120,000
Factory overhead 60,000 150,000
Costs to account for$270,000
The cost of goods completed and transferred to finished goods was $231,500 in June.
Required: Prepare summary journal entries for the use of direct materials, direct labour and factory overhead applied. Also prepare a journal entry for the transfer of goods completed.