Blossom Company has two sequential processing departments: Assembly and Shaping. The Shaping Department reports the following information. Conversion costs are applied evenly throughout the process. 
What would have been the journal entry to record the transfer of product from the assembly department to the Shaping Department?
A) WIP-Assembly (Dr) ; WIP-Shaping (Cr) 640,000
B) WIP-Shaping (Dr) ; WIP-Assembly (Cr) 731,000
C) WIP-Assembly (Dr) ; WIP-Shaping (Cr) 731,000
D) WIP-Shaping (Dr) ; WIP-Assembly (Cr) 640,000
Correct Answer:
Verified
Q218: When the units are sold, Cost of
Q219: When units are sold, Finished Goods Inventory
Q220: Flying High Manufacturing produces frisbees using a
Q221: Second or subsequent departments must account for
Q222: Satellite Manufacturing is a company that manufactures
Q224: The journal entry a company would make
Q225: The journal entry a company would make
Q226: Transferred-in costs are incurred in a previous
Q227: In a process costing system, costs flow
Q228: The cost per equivalent unit must be
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents