The production cost report for Department 1 shows that $159,000 was assigned to the 38,000 units...
The production cost report for Department 1 shows that $159,000 was assigned to the 38,000 units transferred to Department 2. This transfer cost assigned to units transferred to Department 2 is recorded with a debit to Work-in-Process—Department 1. Process costing is used.
True or False
Homework Answers
Answer--------False
.
When cost from department 1 is transferred to department 2 then Work-in-Process—Department 1 is credited and Work-in-Process—Department 2 is debited.
By crediting Work-in-Process—Department 1 the cost from Work-in-Process—Department 1 will reduce and will be added to Work-in-Process—Department 2.
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The production cost report for Department 1 shows that $159,000
was assigned to the 38,000 units...
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