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4o Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department,
4o Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct mate- rials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for February: Assembly 8,000 45,200 s 16,800 Molting Physical units 10,000 Transferred in Direct materials Conversion costs S 22,000 S 13,800 Current production: Units started 25,000 30,000 Units transferred out 35,000 Costs: Transferred in Direct materials Conversion costs Percentage of completion: s 56,250 $103,500 s 39,550 $136,500 Beginning inventory 40% 80 S9 S0 Ending inventory 1. Using the , prepare the following for the Molding Department: a. b. c. d. e. A physical flow schedule An equivalent units calculation Calculation of unit costs. Round to four decimal places. Cost of ending work in process and cost of goods transferred out A cost reconciliation
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