EXERCISE 4–8 Process Costing Journal Entries [LO1] Schneider Brot is a bread-baking company… 1 answer below »

EXERCISE 4–8 Process Costing Journal Entries [LO1]

Schneider Brot is a bread-baking company located in Aachen, Germany, near the Dutch border. The company uses a process costing system for its single product—a popular pumpernickel bread. Schneider Brot has two processing departments—Mixing and Baking. The T-accounts below show the flow of costs through the two departments in April (all amounts are in the currency euros):

 

Work in Process—Mixing  

Balance 4/1  

10,000  

Transferred out  

760,000

Direct materials

330,000

 

 

Direct labor

260,000

 

 

Overhead

190,000

 

   

Work in Process—Baking  

Balance 4/1  

20,000  

Transferred out  

980,000

Transferred in

760,000

 

 

Direct labor

120,000

 

 

Overhead

90,000

 

 

 

Required:

Prepare journal entries showing the flow of costs through the two processing departments during April.

 

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