Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the...
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Accounting
Azule Company manufactures in two sequential processes, Cutting and Binding. The two processes report the information below for a recent month.
Cutting
Binding
Beginning work in process inventory
$ 4,570
$ 8,524
Costs added this period
Direct materials
11,840
6,480
Conversion
17,550
18,725
Transferred from Cutting to Binding
$ 19,675
Transferred from Binding to finished goods
38,000
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.
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