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44 please help me solve this (#4) Requirement Journalize the transfer of costs to the Finishing Department. (Hint: Complete the five-step process costing procedure to

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please help me solve this (#4)

Requirement Journalize the transfer of costs to the Finishing Department. (Hint: Complete the five-step process costing procedure to determine how much cost to transfer.) We need to begin the five-step process costing procedure by first summarizing the units to account for and computing the equivalent units Forming Department Equivalent Unit Computation Month Ended October 31 Equivalent Units Flow of Physical Units Direct Conversion Flow of Production Materials Costs Units to account for: Units accounted for: Total equivalent units The next step is calculating the cost per equivalent unit. (Enter the cost per equivalent unit to two decimal places.) Forming Department Choose from any list or enter any number in the input fields and then continue to the next question The next step is calculating the cost per equivalent unit. (Enter the cost per equivalent unit to two decinal places.) Forming Department Cost per Equivalent Unit Month Ended October 31 Direct Conversion Materials Costs Total Cost per equivalent unit Now we can calculate the total cost of the units completed and transferred out and the ernding work in process. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step.) Assembly Department Month Ended October 31 Assigning Costs DirectConversion Materials Costs Total Comnleted and traneferred nut Assigning Costs Direct Conversion i Data Table Materials Costs Total Completed and transferred out Equivalent units comple ted and transferred out Work in Process-Forming Divided by: Cost per equivalent unit Beginning inventory, October 1 Direct materials Conversion costs Ending inventory 66,962 Traisferred to Finishing 219,588 162,700 Costs assigned to units completed and transferred out Ending work in process: Equivalent units in ending work in process, October 31 Multiplied by: Cost per equivalent unit assigned to units in ending work in process More Info Total costs accounted for Finally, jouazethe transfer of costs to the Finishing Department. (Record debits first, then credits. Excluce explanations from any journal entries.) The Forming Department had 10,460 partially complete units in beginning work in process inventory. The departnent started work on 68,440 units during the month and ended the month with 8,800 units still in work in units were 80% complete as to direct materials but 20% complete as to oonversion work. The beginning baance of $66,962 consisted of $21,500 of direct materiala and 545,462 of coversion costs. Journal Entry Date Accounts Debit Credit process. These unfinished Work in Prooess Inventory Finishing Work in Process Inventory Forming Print Done Choose from any list or enter any number in the input fields and then continue to the next question. Requirement Journalize the transfer of costs to the Finishing Department. (Hint: Complete the five-step process costing procedure to determine how much cost to transfer.) We need to begin the five-step process costing procedure by first summarizing the units to account for and computing the equivalent units Forming Department Equivalent Unit Computation Month Ended October 31 Equivalent Units Flow of Physical Units Direct Conversion Flow of Production Materials Costs Units to account for: Units accounted for: Total equivalent units The next step is calculating the cost per equivalent unit. (Enter the cost per equivalent unit to two decimal places.) Forming Department Choose from any list or enter any number in the input fields and then continue to the next question The next step is calculating the cost per equivalent unit. (Enter the cost per equivalent unit to two decinal places.) Forming Department Cost per Equivalent Unit Month Ended October 31 Direct Conversion Materials Costs Total Cost per equivalent unit Now we can calculate the total cost of the units completed and transferred out and the ernding work in process. (Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step.) Assembly Department Month Ended October 31 Assigning Costs DirectConversion Materials Costs Total Comnleted and traneferred nut Assigning Costs Direct Conversion i Data Table Materials Costs Total Completed and transferred out Equivalent units comple ted and transferred out Work in Process-Forming Divided by: Cost per equivalent unit Beginning inventory, October 1 Direct materials Conversion costs Ending inventory 66,962 Traisferred to Finishing 219,588 162,700 Costs assigned to units completed and transferred out Ending work in process: Equivalent units in ending work in process, October 31 Multiplied by: Cost per equivalent unit assigned to units in ending work in process More Info Total costs accounted for Finally, jouazethe transfer of costs to the Finishing Department. (Record debits first, then credits. Excluce explanations from any journal entries.) The Forming Department had 10,460 partially complete units in beginning work in process inventory. The departnent started work on 68,440 units during the month and ended the month with 8,800 units still in work in units were 80% complete as to direct materials but 20% complete as to oonversion work. The beginning baance of $66,962 consisted of $21,500 of direct materiala and 545,462 of coversion costs. Journal Entry Date Accounts Debit Credit process. These unfinished Work in Prooess Inventory Finishing Work in Process Inventory Forming Print Done Choose from any list or enter any number in the input fields and then continue to the next

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