Twinnings Corporation Manufactures Scheduling Books $60 \%$ Complete for Conversion)
Started
Completed?
Units, Ending Work in Process

question 102

Multiple Choice

Twinnings Corporation manufactures Scheduling Books. There are two processes: printing and binding. The following information is given for the printing department for September. Units:
Units, beginning work in process 40,000 (20\% complete for materials, $60 \%$ complete for conversion)
Started
Completed?
Units, ending work in process $\quad 50,000 \quad$ (25\% complete for materials, $80 \%$ complete for conversion)
$\begin{array} { l l r r } \text { Costs: } & \text { Materials } & \text { Conversion } & \text { Total } \\ \text { beginning workin process } & \$ 6,080 & \$ 2,160 & \$ 8,240 \\ \text { current costs } & \$ 220,875 & \$ 30,600 & \$ 251,475 \\ \text { total costs } & \$ 226,955 & \$ 32,760 & \$ 259,715 \end{array}$ The company uses FIFO inventory assumption. What is the journal entry for the cost of goods sent to binding?

• A)work in process - binding $246,500 work in process - printing $246,500
• B)work in process - printing $246,340 work in process - binding $246,340
• C)work in process - binding $246,340 work in process - printing $246,340
• D)work in process - printing $246,500 work in process - binding $246,500
• E)none of the above

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Definitions:

Private Property

Land or possessions owned by individuals or entities and not by the government or public.

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The use of land or resources for the benefit and welfare of the general public.

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Mother Earth

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