Question

The journal entry to record the transfer of 1,040 units of part number 1177 with a...

The journal entry to record the transfer of 1,040 units of part number 1177 with a value of $1.70 each, to work in process is a. Work in Process 1,768 Factory Overhead 1,768 b. Work in Process 1,768 Materials 1,768 c. Work in Process 1,768 Cash 1,768 d. Materials 1,768 Work in Process 1,768

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Answer #1
Solution:
Journal Entry of the same is as below,
Journal Entries
Transaction Account Title Debit Credit
---- Work in Process $1,768
            Materials $1,768
(To record the transfer of material for process)
As per the above journal entry,
Answer = Option b = Work in Process 1,768 ; Materials 1,768
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