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Huckvale Homes produces exterior siding for homes. The Preparation Department begins with wood, which is chopped into small bits. At the end of the
Huckvale Homes produces exterior siding for homes. The Preparation Department begins with wood, which is chopped into small bits. At the end of the process, an adhesive is added. Then the wood/adhesive mixture goes on to the Compression Department, where the wood is compressed into sheets. Conversion costs are added evenly throughout the preparation process. January data for the Preparation Department are as follows: (Click the icon to view the data.) Read the requirements. Total costs accounted for Requirement 2. Prepare the journal entry to record the cost of the sheets completed and transferred out to the Compression Department. (Record debits first, then credits. Exclude explanations from any journal entries.) Debit Credit Date Jan. 31 Accounts Requirement 3. Post the journal entries to the Work in process Inventory-Preparation T-account. What is the ending balance? Post all transactions to the Work-in-Process Inventory-Preparation T-account using the appropriate descriptions as posting references. Calculate and enter the ending balance of the account, "Bal. Jan. 31", on the appropriate side of the T-account. Bal. Dec. 31 Work-in-Process Inventory-Preparation 0 Choose from any list or enter any number in the input fields and th Bal. Jan. 31 ?
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