answer

IVEN: FOR A GIVEN MONTH THE FOLLOWING COSTS WERE RECORDED IN WIP LABOR OH 80% OF LABOR MATERIAL COSTS $400,000 CONVERSION COST 360,000 WHAT ARE PRIME COSTS WHAT ARE TOTAL MANUFACTURING COSTS IF ALL WIP WAS TRANSFERRED TO FINISHED GOOD PREPARE A JOURNAL ENTRY FOR THE TRANSFR ASSUME NO BEGINNING INVENTORY IN FINISHED GOODS IF ALL FINISHED GOODS WERE SOLD PREPARE A COST OF GOODS ENTRY