In November, Curtis Company had the following cost flows:

Required:
1. Prepare the journal entries to transfer costs from
(a) Molding to Grinding,
(b) Grinding to Finishing,
(c) Finishing to Finished Goods.
2. Explain how the journal entries differ from a job-order cost system.

Transcribed Image Text:

Grinding Department Department 本 15,000 6,800 30,200 Molding Direct materials Direct labor Applied overhead Transferred in cost: Finishing Department $8,600 5,800 5,600 $55,800 4,000 4,200 64,000 From Molding From Grinding $64,000 116,000 $136,000 Total cost $116,000