On March 1, Upton Company\'s packaging department had Work in Process inventory of 8,820 units, which had been transferred in from the finishing department.
On March 1, Upton Company\'s packaging department had Work in Process inventory of 8,820 units, which had been transferred in from the finishing department.
Solution
Journal Entry For Inter Transfer Depts ,
At end of the year ,if WIP considered as completed Inventory, the Floowing Entry should be made,
Note: 8820 are Units, as the unit rate not given, we produced only units, but in practical we should enter only cost of those units.
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On March 1- Upton Company-'s packaging department had Work in Process.docx
1. On March 1, Upton Company's packaging department had Work in Process inventory of 8,820
units, which had been transferred in from the finishing department.
On March 1, Upton Company's packaging department had Work in Process inventory of 8,820
units, which had been transferred in from the finishing department.
Solution
Journal Entry For Inter Transfer Depts ,
At end of the year ,if WIP considered as completed Inventory, the Floowing Entry should be
made,
Note: 8820 are Units, as the unit rate not given, we produced only units, but in practical we
should enter only cost of those units.
Finishing Dept 8820
Packing Dept 8820
(To Transfer units from Packing to Finishing Dept
