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(Solution) - Amazing Beans produces jelly beans in three sequential processing departments

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Amazing Beans produces jelly beans in three sequential processing departments: Centers, Shells, and Packaging. Assume that the Shells processing department began September with $18,500 of unfinished jelly bean centers. During September, the Shells process used $42,800 of direct materials, used $12,600 of direct labor, and was allocated $17,700 of manufacturing overhead. In addition, $126,300 was transferred out of the Centers processing department during the month and $196,800 was transferred out of the Shells processing department during the month. These transfers represent the cost of the jelly beans transferred from one process to another.
1. Prepare a T-account for the "Work in Process Inventory-Shells" showing all activity that took place in the account during September.
2. What is the ending balance in the "Work in Process Inventory-Shells" on September 30? What does this figure represent?


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This question was answered on: Jul 11, 2017

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