The PVC Corporation

Statement of Cost Transferred Out

For the period ending May 20xx

Units Materials Conversion

BB 70,000 100% 90%

Added 350,000
Completed 380,000

EB 40,000 75% 25%

EUP
- Completed 380,000 380,000
- EB x %Complete 30,000 10,000
410,000 390,000

Costs
- BB 86,000 36,000
- Added 447,000 198,000
Cost to be accounted for 533,000 234,000
Cost / EU 1.30 0.60

Cost Xfr'd (Units complete x cost/EU) 494,000 228,000

Cost in EB (EU in EB x cost/EU 39,000 6,000
Cost accounted for 533,000 234,000
The PVC Corporation
Journal Entry

5/31/xx WIP - Next Department (Material) 494,000.00

WIP - Next Department (Conversion) 228,000.00
WIP - Cooking (Material) 494,000.00
WIP - Cooking (Conversion) 228,000.00

To record transfer of cost for completed units from Cooking to the next department