Problem 11-42 Name:
Insert your answers in the gray-shaded cells. Select accounts for the
journal entries from the drop-down lists. If an answer is incorrect, the
word “wrong” will appear.
a. Joint Cost Allocation Total Cost
Forever 57,713$ 60,893$
Fantasy 19,238 33,053$
Total 76,950$
b. Account Debit Credit
59,715
42,000
11,340
6,375
59,715
59,715
17,235
9,150
3,225
4,860
3,180
3,180
13,815
2,940
4,680
6,195
60,893
33,052
93,945
c.
DM 42,000 59,715 To Heating
DL 11,340
OH 6,375
Bal –
Solution
Work in Process – Combining
Raw Materials Inventory
Work in Process – Combining
Raw Materials Inventory
Wages Payable
Manufacturing Overhead
Work in Process – Heating
Work in Process – Combining
Work in Process – Heating
Wages Payable
Manufacturing Overhead
Work in Process – Heating
Wages Payable
Manufacturing Overhead
Work in Process – Heating
Finished Goods – Fantasy
Work in Process – Heating
Raw Materials Inventory
Raw Materials Inventory
Finished Goods – Forever
DM 9,150 60,893 To FG – Forever
DL 3,225 33,052 To FG – Fantasy
OH 4,860
From Combining 59,715
DM 3,180
DM 2,940
DL 4,680
OH 6,195
Bal –
Beg. XXX
CGM 60,893
Beg. XXX
CGM 33,052
Finished Goods – Fantasy
Work in Process – Heating
Finished Goods – Forever