Greene, Inc., which uses a process-costing system, transfers completed productio

Question

Greene, Inc., which uses a process-costing system, transfers completed production from Department no. 1 to Department no. 2 for further work. Which of the following best describes the account that would be debited to record this transfer?

   A. Cost of Goods Transferred.
   B. Finished-Goods Inventory: Department no. 1.
   C. Finished-Goods Inventory: Department no. 2.
   D. Work-in-Process Inventory: Department no. 1.
   E. Work-in-Process Inventory: Department no. 2. Greene, Inc., which uses a process-costing system, transfers completed production from Department no. 1 to Department no. 2 for further work. Which of the following best describes the account that would be debited to record this transfer?

   A. Cost of Goods Transferred.
   B. Finished-Goods Inventory: Department no. 1.
   C. Finished-Goods Inventory: Department no. 2.
   D. Work-in-Process Inventory: Department no. 1.
   E. Work-in-Process Inventory: Department no. 2.

Explanation / Answer

E. Work-in-Process Inventory: Department no. 2.

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