Wildhorse Candies molds and cooks heart-shaped candy for Valentine's Day. Wildhorse Candies had the following costs during its most recent year: Beginning WIP Inventory-Molding: $12,328 Additional Direct Materials (DM): $99,680 Additional Conversion Costs (CC): $144,030 Transferred-out Costs from the Molding Department: $248,980 What journal entry would be made to record the transfer of the cost of units completed out of WIP inventory-Molding? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Enter debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Wildhorse Candies molds and cooks heart-shaped candy for Valentine's Day. Wildhorse Candies had the following costs during its most recent year: Beginning WIP Inventory-Molding: $12,328 Additional Direct Materials (DM): $99,680 Additional Conversion Costs (CC): $144,030 Transferred-out Costs from the Molding Department: $248,980 What journal entry would be made to record the transfer of the cost of units completed out of WIP inventory-Molding? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Enter debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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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