18 Aug Question: Blossom Company Has Two Sequential Processing Departments: Assembly And Shaping. The Shaping Department Reports The Following Information. Conversion Costs Are Applied Evenly Throughout The Process. Beginning WIP Inventory 9,000 Units Transferredminus−in Costs In Beginning WIP Inventory $ 95 Comma 000$95,000 Direct Materials Costs In Beginning WIP …
Blossom Company has two sequential processing departments: Assembly and Shaping. The Shaping Department reports the following information. Conversion costs are applied evenly throughout the process.
| Beginning WIP Inventory | 9,000 units |
| Transferredminus−in
costs in beginning WIP Inventory |
$ 95 comma 000$95,000 |
| Direct materials costs in beginning WIP Inventory | $25,600 |
| Conversion costs in beginning WIP Inventory | $23,750 |
| Unitstransferredminus−in | 47,000 units |
| Transferredminus−in
costs |
$ 650 comma 000$650,000 |
| Units Completed | 43,000 |
| Costs added: materials | $155,040 |
| Costs added: conversion | $230,710 |
| Ending WIP Inventory | 13,000 units |
| (50% complete for materials and 40% complete for conversion) | |
What would have been the journal entry to record the transfer of product from the assembly department to the Shaping Department?
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