Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the...
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Accounting
Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the information below for a recent month.
| Cutting | Binding | |
| Beginning work in process inventory Costs added this period | $ 4,545 | $ 7,826 |
| Direct materials | 10,240 | 6,852 |
| Conversion | 16,500 | 19,175 |
| Transferred from Cutting to Binding | $ 22,240 | |
| Transferred from Binding to finished goods | 32000 |
Determine the ending balances in the Work in Process Inventory accounts for Cutting and for Binding. Hint Set up T-accounts for Work in Process Inventory for both Cutting and for Binding.
| Cutting | Binding | |
| Ending work in process inventory |
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