NYI Corporation manufactures decorative window glass in two sequential departments. These data pertain to the month of August: Required: Prepare journal entries to record these events:
1. Incurrence of direct materials and direct labor. Application of factory overhead in department 1.
2. Transfer of products from department 1 to department 2.
3. Incurrence of direct materials and direct labor. Application of factory overhead in department 2.
4. Transfer of complete products from department 2 to finished goods inventory.

Question

NYI Corporation manufactures decorative window glass in two sequential departments. These data pertain to the month of August:  Required: Prepare journal entries to record these events:
1. Incurrence of direct materials and direct labor. Application of factory overhead in department 1.
2. Transfer of products from department 1 to department 2.
3. Incurrence of direct materials and direct labor. Application of factory overhead in department 2.
4. Transfer of complete products from department 2 to finished goods inventory.

Quizplus · Accepted Answer

The Answer of NYI Corporation manufactures decorative window glass in two sequential departments. These data pertain to the month of August:  Required: Prepare journal entries to record these events:
1. Incurrence of direct materials and direct labor. Application of factory overhead in department 1.
2. Transfer of products from department 1 to department 2.
3. Incurrence of direct materials and direct labor. Application of factory overhead in department 2.
4. Transfer of complete products from department 2 to finished goods inventory.

NYI Corporation Manufactures Decorative Window Glass in Two Sequential Departments