Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the information below for a recent month. Beginning work in process inventory Costs added this period Direct materials Conversion Transferred from Cutting to Binding Cutting $ 4,745 8,440 Binding $ 7,896 11,550 6,976 19,775 $ 16,540 40,000 Transferred from Binding to finished goods Determine the ending balances in the Work in Process Inventory accounts for Cutting and for Binding. Hint Set up T-accounts for Work in Process Inventory for both Cutting and for Binding. Ending work in process inventory Cutting Binding

Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the information below for a recent month. Beginning work in process inventory Costs added this period Direct materials Conversion Transferred from Cutting to Binding Cutting $ 4,745 8,440 Binding $ 7,896 11,550 6,976 19,775 $ 16,540 40,000 Transferred from Binding to finished goods Determine the ending balances in the Work in Process Inventory accounts for Cutting and for Binding. Hint Set up T-accounts for Work in Process Inventory for both Cutting and for Binding. Ending work in process inventory Cutting Binding

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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