Samson Tile produces its product in two processing departments: Forming and Finishing. The following T-account shows the

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Samson Tile produces its product in two processing departments: Forming and Finishing. The following T-account shows the Forming Department's Work in Process Inventory at August 31 prior to completing the five-step process costing procedure:
Work in Process Inventory-Forming Department $ 53,700 Beginning balance Direct materials used 78,400 Manufacturing overh

1. What is the Forming Department's "Total costs to account for" for the month of August?
2. Assume that after using the five-step process costing procedure, the company determines that the "cost to be assigned to units completed and transferred out" is $243,800. What journal entry is needed to record the transfer of costs to the Finishing Department?
3. After the journal entry is made in Requirement 2, what will be the new ending balance in the Forming Department's Work in Process Inventory account?

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Managerial Accounting

ISBN: 978-0134128528

5th edition

Authors: Karen W. Braun, Wendy M. Tietz

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