The following table of cost information is available for the Renaldo Company for the month of November:?Goods inProcessInventory-MixingGoods inProcessInventory-MoldingFinishedGoodsInventoryBeginning Inventory…………………$12,000$15,000$24,000Costs incurred:??? Direct materials………………… 22,000 14,000? Direct labor……………………… 32,000 17,000? Overhead applied………………… 47,000 24,500? Costs transferred out……………(100,000)(152,000)? Costs transferred in………………?100,000152,000 Cost of goods sold………………??(149,000)Ending inventory……………………13,000 18,500 27,000Based on the table of cost information above, prepare the general journal entry required to
record the:a. Transfer of goods from the molding department to the finished goods inventory.b. Cost of goods sold for November.
What will be an ideal response?
| a. | Finished Goods Inventory………………………… | 152,000 | ? |
| ? | Work in Process Inventory - Molding………… | ? | 152,000 |
| ? | ? | ? | ? |
| b. | Cost of Goods Sold……………………………… | 149,000 | ? |
| ? | Finished Goods Inventory……………………… | ? | 149,000 |
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