ted and transferred out ng Work In Process Inventory Satellite Manufacturing Placement Department Month Ended July 31, 20XX Direct Materials erials n costs ending Work In Process counted for n Process Inventory - completed and to units in ending Work in Process Inventory and reported th ollowing journal entry is needed to transfer the costs? Work in Process Inventory - $0.30 - $1,000 Placement Department $46,000 Conversion Costs m Process Inventory - Organization Department $46,000 nts Payable Placement Department $46,000 $2.00 Organization Department $46,000 Work in Process Inventory Placement Department $46,000 $0.50 $4,300 nts Receivable - Placement Department $46,000 Accounts Payable - Organization Department $46,000 Total Accounts Receivable - - Organization Department $46,000 $46,000 $500 $4,300 $4,800 $50,800
ted and transferred out ng Work In Process Inventory Satellite Manufacturing Placement Department Month Ended July 31, 20XX Direct Materials erials n costs ending Work In Process counted for n Process Inventory - completed and to units in ending Work in Process Inventory and reported th ollowing journal entry is needed to transfer the costs? Work in Process Inventory - $0.30 - $1,000 Placement Department $46,000 Conversion Costs m Process Inventory - Organization Department $46,000 nts Payable Placement Department $46,000 $2.00 Organization Department $46,000 Work in Process Inventory Placement Department $46,000 $0.50 $4,300 nts Receivable - Placement Department $46,000 Accounts Payable - Organization Department $46,000 Total Accounts Receivable - - Organization Department $46,000 $46,000 $500 $4,300 $4,800 $50,800
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 5PB: Blue Ribbon Flour Company manufactures flour by a series of three processes, beginning in the...
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![Satellite Manufacturing is a company that manufactures satellite parts. The two departments in the company include the Placement Department and the Organization Department. The
managerial accountant assigned total costs to units completed and to units in ending Work in Process Inventory and reported the following information:
Units completed and transferred out
(20,000)
Satellite Manufacturing
Placement Department
Month Ended July 31, 20XX
Direct
Materials
Units in ending Work In Process Inventory
(5,000)
Direct materials
Conversion costs
Total cost of ending Work In Process
Inventory
Total costs accounted for
Which of the following journal entry is needed to transfer the costs?
-
$0.30
OA. Work in Process Inventory Placement Department $46,000
1
$1,000
-
Conversion
Costs
-
Work in Process Inventory Organization Department $46,000
OB. Work in Process Inventory Organization Department $46,000
Work in Process Inventory Placement Department $46,000
OC. Accounts Payable Placement Department $46,000
Accounts Payable - Organization Department $46,000
O D. Accounts Receivable Placement Department $46,000
$2.00
$0.50
$4,300
Total
Accounts Receivable - Organization Department $46,000
$46,000
$500
$4,300
$4,800
$50,800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe9dee045-fe6e-44d9-9f17-17372c62b6d2%2F43d52268-b539-49ec-8975-4082eabb389e%2F0vnm0iw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Satellite Manufacturing is a company that manufactures satellite parts. The two departments in the company include the Placement Department and the Organization Department. The
managerial accountant assigned total costs to units completed and to units in ending Work in Process Inventory and reported the following information:
Units completed and transferred out
(20,000)
Satellite Manufacturing
Placement Department
Month Ended July 31, 20XX
Direct
Materials
Units in ending Work In Process Inventory
(5,000)
Direct materials
Conversion costs
Total cost of ending Work In Process
Inventory
Total costs accounted for
Which of the following journal entry is needed to transfer the costs?
-
$0.30
OA. Work in Process Inventory Placement Department $46,000
1
$1,000
-
Conversion
Costs
-
Work in Process Inventory Organization Department $46,000
OB. Work in Process Inventory Organization Department $46,000
Work in Process Inventory Placement Department $46,000
OC. Accounts Payable Placement Department $46,000
Accounts Payable - Organization Department $46,000
O D. Accounts Receivable Placement Department $46,000
$2.00
$0.50
$4,300
Total
Accounts Receivable - Organization Department $46,000
$46,000
$500
$4,300
$4,800
$50,800
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