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. Cutting $ 3,670 Binding $ 6,766 Beginning work in process inventory Conto added this period Direct materials Conversion 8,440 17,550 7,844 18,875 Transferred from Cutting to Binding Transferred from Binding to finished goods $ 23,665 33,000 Determine the ending balances in the Work In Process Inventory accounts for Cutting and for Binding. Hirde Set up T-accounts for Work In Process Inventory for both Cutting and for Binding, Cutting Binding Ending work in process inventory