Version B 8. In December, the Cutting Department of a process cost manufacturer incurred total production costs of $71,250, On December 31, the production manager allocated these costs as follows: $57,000 to units completed in December and $14,250 to units that were not complete as of December 31 (the ending balance of Work in Process Inventory-Cutting Department). After product is finished in the Cutting Department, it is transferred into the next stage of production in the Welding Department. What is the appropriate journal entry for the December 31 transfer of goods completed in the Cutting Department? Credit A) Account Title Work in Process Inventory--Cutting Work in Process Inventory-Welding Debit 71,250 71,250 Credit B Debit 71,250 B) Account Title Work in Process Inventory-Welding Work in Process Inventory--Cutting 71,250 Credit C) C Debit 57,000 Account Title Work in Process Inventory--Cutting Work in Process Inventory-Welding 57,000 Credit Debit 57,000 D) Account Title Work in Process Inventory-Welding Work in Process Inventory-Cutting 57,000 9. Which of the following would trigger a noncash investing and financing activities note disclosure to the Statement of Cash Flows? A) Purchase of a building by paying cash. B) Purchase of a building by borrowing from the bank on a long-term note payable. C) Declaring a cash dividend. D) Repayment of Bonds Payable with cash. Page 3