Asked by
Leslie Gomez
on Oct 15, 2024
Verified
The journal entry to record June production activities for goods transferred from production to finished goods is:
A) Debit Finished Goods Inventory $432,000; credit Work in Process Inventory $432,000.
B) Debit Work in Process Inventory $444,000; credit Finished Goods Inventory $444,000.
C) Debit Work in Process Inventory $432,000; credit Finished Goods Inventory $432,000.
D) Debit Finished Goods Inventory $444,000; credit Work in Process Inventory $444,000.
E) Debit Work in Process Inventory $432,000; credit Cash $432,000.
Finished Goods Inventory
A category of inventory that includes items that are ready for sale, having completed all stages of production.
Production Activities
Production activities refer to the processes involved in creating goods or services, including manufacturing, assembly, and quality control.
- Gain insight into the movement of costs in process costing as they transition from work in process to finished goods.
Verified Answer
BE
Learning Objectives
- Gain insight into the movement of costs in process costing as they transition from work in process to finished goods.
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