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

answer; capital structure decision;

answer utilities; more money you have to pay out ; )