Waterway$$s Chocolatiers melts and molds chocolate into delightful shapes. The WIP Inventory$$Melting account

started with a balance of $$18,000$ on January $1.$ During the year, additional DM and conversion costs were added

to the melting department, totaling $$233,500.$ The total cost of units completed in the melting department and

transferred to the molding department during the year was $$237,500.$

Record the journal entry to recognize the total cost of units completed and removed from the melting

department. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no

entry isrequired,select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry.$)$

Account Titles and Explanation Debit Credit

WIP Inventory $-$ Melting

Determine the ending balance in WIP Inventory$$Melting by using a T$-$account.

Answer rating: 100% (QA)

Journal Entry to Recognize Total Cost of Units Completed and Removed from the Melting Department Ac... View the full answer