Question

The Finishing Department of Parker and King​, ​Inc., the last department in the manufacturing​ process, incurred production costs of $ 180 comma 000 during the month of June. If the June 1 balance in​ Work-in-Process Inventorylong dashFinishing is​ $0 and the June 30 balance is $ 45 comma 000​, what amount was transferred to Finished Goods​ Inventory

Answer 1

Answer:

transferred-out 135,000

Explanation:

We solve using the following identity:

beginning WIP + cost added during the period:

total cost to be accounted for.

Then this value can be either ransferred-out r remain at the ending WIP

so we construct as follows:

beginning                     0

added                180,000

Total cost           180,000

ending              (45,000)  

transferred-out 135,000