Process costing system-journal entries
Milton Manufacturing uses a process costing system.Products are processed successively by Department X and Department Y and are then transferred to the finished goods warehouse.Shown below is cost information for Department Y during the month of May: The cost of work in process in Department Y at May 31 has been determined to be $113,500.
In the space provided,prepare a general journal entry to summarize for the month of May each of the following categories of transactions (you may omit explanations):
(a.)The transfer of production from Department X to Department Y.
(b.)The recording of manufacturing costs incurred in Department Y during May.(Use a single journal entry.)
(c.)The transfer of completed units from Department Y to the finished goods warehouse.

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Process costing system-journal entries
Milton Manufacturing uses a process costing system.Products are processed successively by Department X and Department Y and are then transferred to the finished goods warehouse.Shown below is cost information for Department Y during the month of May:  The cost of work in process in Department Y at May 31 has been determined to be $113,500.
In the space provided,prepare a general journal entry to summarize for the month of May each of the following categories of transactions (you may omit explanations):
(a.)The transfer of production from Department X to Department Y.
(b.)The recording of manufacturing costs incurred in Department Y during May.(Use a single journal entry.)
(c.)The transfer of completed units from Department Y to the finished goods warehouse.

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The Answer of Process costing system-journal entries
Milton Manufacturing uses a process costing system.Products are processed successively by Department X and Department Y and are then transferred to the finished goods warehouse.Shown below is cost information for Department Y during the month of May:  The cost of work in process in Department Y at May 31 has been determined to be $113,500.
In the space provided,prepare a general journal entry to summarize for the month of May each of the following categories of transactions (you may omit explanations):
(a.)The transfer of production from Department X to Department Y.
(b.)The recording of manufacturing costs incurred in Department Y during May.(Use a single journal entry.)
(c.)The transfer of completed units from Department Y to the finished goods warehouse.

Process Costing System-Journal Entries