QS 16-20 (Algo) Transfer of costs; ending WIP balances LO P4 Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the information below for a recent month. Beginning work in process inventory Costs added this period Direct materials Conversion Transferred from Cutting to Binding Cutting $ 4,145 Binding $ 8,048 13,940 13, 200 9,456 19,925 $ 19,390 47,000 Transferred from Binding to finished goods Determine the ending balances in the Work in Process Inventory accounts for Cutting and for Binding. Hint Set up T-accounts for Work in Process Inventory for both Cutting and for Binding. Ending work in process inventory Cutting Binding