Blousson Company has two sequential processing departments: Assembly then Shaping. The Shaping Department reports the following information. Conversion costs are applied evenly throughout the process.
| Beginning WIP inventory | 7,000 units |
| Transferred-in costs in beginning WIP inventory | $98,000 |
| Direct materials costs in beginning WIP inventory | $24,500 |
| Conversion costs in beginning WIP inventory | $22,750 |
| Units transferred-in | 45,000 units |
| Transferred-in costs | $630,000 |
| Units completed | 42,000 |
| Costs added: materials | $155,040 |
| Costs added: conversion | $230,710 |
| Ending WIP inventory | 10,000 units |
| (50% complete for materials and 40% complete for conversion) | |
What would have been the journal entry to record the transfer of product from the assembly department to the shaping department?
◦ WIP-assembly (Dr); WIP-shaping (Cr) 630,000
◦ WIP-shaping (Dr); WIP-assembly (Cr) 728,000
◦ WIP-shaping (Dr); WIP-assembly (Cr) 630,000
◦ WIP-assembly (Dr); WIP-shaping (Cr) 728,000
Information Processing Model The components of the model operate simultaneously.
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