Figure 6-2 Speakeasy Co.manufactures podiums.Production consists of three processes: cutting, assembly, and finishing.The following costs are given for May:
There were no work in process inventories and 1,000 podiums were produced.
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Refer to Figure 6-2.Record the journal entries to record the transfer of goods from process to process.
D) none of these

Question

Figure 6-2 Speakeasy Co.manufactures podiums.Production consists of three processes: cutting, assembly, and finishing.The following costs are given for May:
 There were no work in process inventories and 1,000 podiums were produced.
-
Refer to Figure 6-2.Record the journal entries to record the transfer of goods from process to process.
D) none of these

Quizplus · Accepted Answer

The journal entries reflect the costs transferred from one process to another, as well as the transfer of finished goods from the last process to the finished goods inventory. This is accurately reflected in option A, where the costs are transferred from cutting to assembly and from assembly to finishing, and finished goods are transferred from finishing to the finished goods inventory. Option B has incorrect amounts for the transfers, while options C and D do not reflect the transfer of finished goods to the finished goods inventory.