Help Check m QS 16-20 Transfer of costs; ending WIP balances LO C3 Azule Co. rec

Question

Help Check m QS 16-20 Transfer of costs; ending WIP balances LO C3 Azule Co. recent month. manufactures in two sequential processes, cutting and binding. The two departments repot the information below for a Binding Transf in from cutting dept $ 1,950 1,220 2,502 3,350 4,350 Conversion $13,340 s 6,852 18,750 19,925 17,110 38,000 Conversion Transferred in from cutting dept. Transferred to finished gooda Determine the ending balances in the Work in Process Inventory accounts of each department Cutting Bind work in process Next >

Explanation / Answer

1) Ending WIP:

Cutting: 19,550

Binding: 14,689

Working:

Beg. Inventory (1220+3350)

4,570

DM

13,340

Conversion

18,750

Transferred to Binding

-17,110

Ending inventory

19,550

Beg. Inventory (1950+2502+4350)

8802

Tfd-in

17,110

DM

6852

Conversion

19,925

Transferred to finished goods

-38,000

Ending inventory

14689

2)

Beg. Inventory (1220+3350)

4,570

DM

13,340

Conversion

18,750

Transferred to Binding

-17,110

Ending inventory

19,550

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