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Twinnings Corporation manufactures Scheduling Books. There are two processes: printing and binding. The following information is given for the printing department for September. Units: Units,
Twinnings Corporation manufactures Scheduling Books. There are two processes: printing and binding. The following information is given for the printing department for September.
Units: | ||
Units, beginning work in process | 40,000 | (20% complete for materials, 60% complete for conversion) |
Started | 300,000 | |
Completed | ? | |
Units, ending work in process | 50,000 | (25% complete for materials, 80% complete for conversion) |
Costs: | Materials | Conversion | Total | |
beginning work in process | $ 6,080 | $ 2,160 | $ 8,240 | |
current costs | $220,875 | $30,600 | $251,475 | |
total costs | $226,955 | $32,760 | $259,715 |
The company uses FIFO inventory assumption. What is the journal entry for the cost of goods sent to binding?
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