The cost of production of completed and transferred goods during the period amounted to $540,000, and the finished products shipped to customers had total production costs of $375,000. The entry to record the transfer of costs from work in process to finished goods is

Learning Objectives

• Comprehend the procedures and accounting records involved in the acquisition, requesting, and utilization of materials within production processes.
• Identify the accounts and entries required for job completion and cost transfers within manufacturing accounts.