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1) a. Required: prepare a production cost worksheet using weighted average for the cutting department and the finishing department. 2) a. Prepare a production cost
1) a. Required: prepare a production cost worksheet using weighted average for the cutting department and the finishing department.
Question 1 General Fabricators assembles its product in several departments. It has two departments that process all units. During October, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials (100%). The beginning inventory included $12,000 for materials and $3,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at the beginning of the process. Beginning work in process in the finishing department was 75% complete as to conversion. Direct materials are added at the end of the process. Beginning inventories included $16,000 for transferred-in costs and $20,000 for conversion costs. Ending inventory was 25% complete. Additional information about the two departments follows: Required: Prepare a production cost worksheet using weighted-average for the cutting department and the finishing department. Question 2 Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, work in process is 40% complete and at the end of the month it is 60% complete. Other data for the month includes: Question 2 Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, work in process is 40% complete and at the end of the month it is 60% complete. Other data for the month includes: Required: a. Prepare a production cost worksheet with supporting schedules using the weighted-average method of process costing. b. Prepare journal entries to record transferring of materials to processing and from processing to finished goods 2) a. Prepare a production cost worksheet with supporting schedules using the weighted average method of process costing.
b. Prepare journal entries to record transferring of materials to processing and from processing to finished goods.
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