Process costing system-journal entries joyce industries uses a process costing system. all of the company's manufacturing activities take place in a single processing department. there was no beginning inventory in may. during the month, $60,000 of materials were added and $40,000 of labor and $75,000 of overhead costs were charged to work in process. the entire work in process inventory of 20,000 units was completed and transferred to finished goods. of these 20,000 units, 15,000 were sold on account at $14 per unit. prepare a general journal entry to summarize each of the following categories of transactions for the month of may. (you may omit explanations.) enter your answers in the corresponding tab in the excel answer sheet.
a. the recording of manufacturing costs applied to production (use a single journal entry).
b. the transfer of completed units from work in process to the finished goods warehouse.
c. the sale of 15,000 units manufactured during the month and the related cost of goods sold.

2. taxes paid for a given income level rosa is getting ready to do her taxes. she is single and lives in denver. rosa earned $60,000 in taxable income in 2015. she reviews the following table, which shows the irs tax rates for a single taxpayer in 2015. on annual taxable the tax rate (percent) up to $9,225 10.0 from $9,225 to $37,450 15.0 from $37,450 to $90,750 25.0 from $90,750 to $189,300 28.0 from $189,300 to $411,500 33.0 from $411,500 to $413,200 35.0 over $413,200 39.6 based on the irs table, rosa calculates that her marginal tax rate is when her annual taxable income is $60,000. rosa calculates that she owes in income taxes for 2015. rosa then calculates that her average tax rate is , based on the annual income level and the amount of taxes she owes for 2015. after figuring out what she owes in taxes in 2015, rosa decides to ask an accountant for tax advice. the accountant claims that he has found a legal way to shelter $4,000 of taxable income from the federal government. the maximum amount that rosa is willing to pay to learn this strategy and reduce her taxable income by $4,000 is . (hint: sheltering some income means finding a legal way to avoid being charged income tax on that income. for example, someone who has $50,000 in taxable income and shelters $10,000 pays income tax on only $40,000.)