Work in Process Inventory - Forming Department
Beginning balance	$62,000
Direct materials used	79,000
Direct labour	14,900
Manufacturing overhead allocated	133,000

Manitoba 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:

Requirements

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 $247,000. What journal entry is needed to record the transfer of costs to the Finishing Department?
3.	After the journal entry is made, what will be the new ending balance in the Forming Department's work in process inventory account?

Requirement 1. What is the Forming Department's Total Costs to Account For for the month of August? Identify the labels and calculate the total costs to account for.

Total costs to account for

Requirement 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 $247,000.

What journal entry is needed to record the transfer of costs to the Finishing Department? (Record debits first, then credits. Explanations are not required.)

Journal Entry
Date		Accounts	Debit	Credit

Requirement 3. After the journal entry is made, what will be the new ending balance in the Forming Department's work in process inventory account?

The new ending balance in the Forming Department's work in process inventory account is ...? $