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T2-2 Processing costing: Cost flows (LO 2) Fill in the missing data (ignore indirect materials).
| | Raw Materials Inventory | WIPDepartment 1 | WIPDepartment 2 | Finished Goods Inventory |
| Beginning balance | $150,000 | | $ 60,000 | | $ 51,000 | | $250,000 | |
| Materials purchased | 805,000 | | | | | | | |
| Direct materials used | | $800,000 | 630,000 | | c. | | | |
| Conversion costs incurred | | | 516,000 | | 180,000 | | | |
| Transfers of completed units | | | | $1,100,000 | d. | e. | f. | g. |
| Cost of goods sold | | | | | | | | |
| Ending balance | a. | | b. | | $ 31,000 | | $150,000 | |
T2-3 Process costing: Cost flows (LO 2) Fill in the missing data (ignore indirect materials).
| | Raw Materials Inventory | WIPDepartment 1 | WIPDepartment 2 | Finished Goods Inventory |
| Beginning balance | a. | | $ 36,000 | | $ 13,000 | | $63,000 | |
| Materials purchased | $250,000 | | | | | | | |
| Direct materials used | | b. | 200,000 | | 80,000 | | | |
| Conversion costs incurred | | | 85,000 | | e. | | | |
| Transfers of completed units | | | | d. | 300,000 | f. | g. | |
| Cost of goods sold | | | | | | | | $512,000 |
| Ending balance | $ 16,000 | | c. | | $ 8,000 | | $41,000 | |
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