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The cost of work in process in Department B at October 1 is $32,500, and the cost of work in process at October 31 is $39,000. Using the format below, record for the month of October: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (a) The transfer of production from Department A to B. (b) The manufacturing costs incurred by Department B. (c) The transfer of completed units from Department B to the Finished Goods Inventory warehouse.

The cost of work in process in Department B at October 1 is $32,500, and the cost of work in process at October 31 is $39,000. Using the format below, record for the month of October: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (a) The transfer of production from Department A to B. (b) The manufacturing costs incurred by Department B. (c) The transfer of completed units from Department B to the Finished Goods Inventory warehouse.

FINANCIAL ACCOUNTING
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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Please show your work. Please do not use Excel, i need to be able to see work and answers clearly

Wildhorse Industries uses a process cost system. Products are processed first by Department A, then by Department B, before being transferred to the finished goods warehouse. Shown below is the cost information for Department B during the month of October: Costs of units transferred in Manufacturing costs added in Department B: Direct materials Direct labor Manufacturing overhead Total costs charged to Department B in October (a) (b) (c) (a) (b) (c) The cost of work in process in Department B at Octobe 1 is $32,500, and the cost of work in process at October 31 is $39,000. Using the format below, record for the month of October: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Transferred from Dept. A to Dept. B $65,000 Manufacturing costs assigned to Dept. B Transferred to Finished Goods Inv. 15,600 24,700 $156,000 The transfer of production from Department A to B. The manufacturing costs incurred by Department B. The transfer of completed units from Department B to the Finished Goods Inventory warehouse. $ 105,300 $261,300 Raw Materials Inventory $ Manufacturing Costs Factory Labor Manufacturing Overhead $ $ Dept. A Work in Process $ Dept. B Finished Goods Inventory $ ||
Transcribed Image Text:Wildhorse Industries uses a process cost system. Products are processed first by Department A, then by Department B, before being transferred to the finished goods warehouse. Shown below is the cost information for Department B during the month of October: Costs of units transferred in Manufacturing costs added in Department B: Direct materials Direct labor Manufacturing overhead Total costs charged to Department B in October (a) (b) (c) (a) (b) (c) The cost of work in process in Department B at Octobe 1 is $32,500, and the cost of work in process at October 31 is $39,000. Using the format below, record for the month of October: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Transferred from Dept. A to Dept. B $65,000 Manufacturing costs assigned to Dept. B Transferred to Finished Goods Inv. 15,600 24,700 $156,000 The transfer of production from Department A to B. The manufacturing costs incurred by Department B. The transfer of completed units from Department B to the Finished Goods Inventory warehouse. $ 105,300 $261,300 Raw Materials Inventory $ Manufacturing Costs Factory Labor Manufacturing Overhead $ $ Dept. A Work in Process $ Dept. B Finished Goods Inventory $ ||
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