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Coronado's Chocolatiers melts and molds chocolate into delightful shapes. The WIP Inventory-Melting account started with a balance of $20,000 on January 1. During the year,
Coronado's Chocolatiers melts and molds chocolate into delightful shapes. The WIP Inventory-Melting account started with a balance of $20,000 on January 1. During the year, additional DM and conversion costs were added to the melting department, totaling $233,500. The total cost of units completed in the melting department and transferred to the molding department during the year was $238,000. Record the journal entry to recognize the total cost of units completed and removed from the melting department. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Determine the ending balance in WIP Inventory-Melting by using a T-account. Ending balance $ | Credit
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