Hardy company manufactures a single product by a continuous process, involving two production departments. the records indicate that $140,000 of direct materials were issued to and $200,000 of direct labor was incurred by department 1 in the manufacture of the product. the factory overhead rate is $25 per machine hour; machine hours were 5,000 in department 1. work in process in the department at the beginning of the period totaled $35,000; and work in process at the end of the period was $25,000. prepare entries to record

Explanation:

In this question, we record the entries of raw material inventory, factory labor, and the manufacturing overhead

The journal entries are shown below:

1. Work in Process - Dept. 1 A/c Dr $140,000

     To Raw Materials Inventory$140,000

(Being the raw material is issued)

2. Work in Process - Dept. 1 A/c Dr  $200,000

        To Direct Labor A/c  $200,000

(Being the direct labor is recorded)

3. Work in Process - Dept. 1 A/c Dr  $125,000   (5,000 × $25)

      To Manufacturing overhead A/c $125,000

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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