Figure 6-2 Speakeasy Co.manufactures podiums.Production consists of three processes: cutting, assembly, and finishing.The following costs are given for May:
There were no work in process inventories and 1,000 podiums were produced.
Refer to Figure 6-2.The journal entry to assign costs to the Assembly process would be
E) none of the above

Question

Figure 6-2 Speakeasy Co.manufactures podiums.Production consists of three processes: cutting, assembly, and finishing.The following costs are given for May:
 There were no work in process inventories and 1,000 podiums were produced.
Refer to Figure 6-2.The journal entry to assign costs to the Assembly process would be
E) none of the above

Quizplus · Accepted Answer

The journal entry to assign costs to the Assembly process should include the cost of raw materials used, payroll incurred, and overhead costs related to the Assembly process. Therefore, the correct entry is to debit Work in Process - Assembly for the total cost incurred in the Assembly process ($29,000) and credit Raw Materials, Payroll, and Overhead Control for the relevant amounts, which results in Choice C being the correct answer.