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16 January, 13:29

Baxter Company produces children's wiffle ball sets using a threeminusstep sequential process that includes molding, coloring and finishing. When the sets are completely finished, out of which account should the cost be transferred? A) Finished Goods Inventory

B) WIP InventoryWIP Inventory-Coloring

C) WIP InventoryWIP Inventory-Finishing

D) WIP InventoryWIP Inventory-Molding

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  1. 16 January, 13:45
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    C) WIP InventoryWIP Inventory-Finishing

    Explanation:

    Cost of WIP is transferred through Molding to Coloring to the last process of the production finishing. After completing the finishing the balls are ready and the cost is transferred from WIP InventoryWIP Inventory-Finishing to Finished goods Inventory. So, the correct answer is C) WIP InventoryWIP Inventory-Finishing.
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