Use the information below to answer the questions for Dept. 1, Dept. 2 and Dept.

ID: 2502337 • Letter: U

Question

Use the information below to answer the questions for Dept. 1, Dept. 2 and Dept. 3.

19 Dept. 1 had a Beginning WIP balance of $60,000. It added cost of $155,000 and had an Ending

WIP balance of $30,000. How much cost did it transfer to Dept. 2?

20 Dept. 2 had a Beginning WIP balance. It received the transfer from Dept. 1 and added cost of

$200,000 during the month. At the end of the month it transferred out $400,000 of cost to Dept. 3

and had an Ending WIP balance of $25,000.

21 Dept. 3 had Beginning WIP balance of $30,000. It received the transfer from Dept. 2 and added

$425,000 during the month. At the end of the month it transferred out $800,000 of cost to Finished

Goods. How much was transferred to Finished Goods.

Use the information below to answer the questions for Dept. 1, Dept. 2 and Dept. 3.

19 Dept. 1 had a Beginning WIP balance of $60,000. It added cost of $155,000 and had an Ending

WIP balance of $30,000. How much cost did it transfer to Dept. 2?

Cost did it transfer to Dept. 2 = Beginning WIP balance + added cost - Ending WIP balance

Cost did it transfer to Dept. 2 = 60000+155000-30000

Cost did it transfer to Dept. 2 = $ 185000

20 Dept. 2 had a Beginning WIP balance. It received the transfer from Dept. 1 and added cost of

$200,000 during the month. At the end of the month it transferred out $400,000 of cost to Dept. 3

and had an Ending WIP balance of $25,000.

Dept. 2 had a Beginning WIP balance = Transferred of cost to Dept. 3+ Ending WIP balance - (Received the transfer from Dept. 1 + Added cost)

Dept. 2 had a Beginning WIP balance = 400000+ 25000 - (185000 + 200000)

Dept. 2 had a Beginning WIP balance = $ 40000

21 Dept. 3 had Beginning WIP balance of $30,000. It received the transfer from Dept. 2 and added

$425,000 during the month. At the end of the month it transferred out $800,000 of cost to Finished

Goods. How much was transferred to Finished Goods.

Transferred to Finished Goods = $ 800000

Dept. 3 had a Ending WIP balance = Beginning WIP balance + Received the transfer from Dept. 2 + Added cost-Transferred of cost to Finished Goods

Dept. 3 had a Ending WIP balance =30000+400000+425000-800000

Dept. 3 had a Ending WIP balance =$ 55000

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