accounting for information system

Chemco Incorporated manufacturers a single product that passes through four sequential processes. Accounting and production data for August for Department 3 are as follows: Physical Transferred- Direct Conversion in Costs materials costs Units Work in Process, August 1 2,000 $ 5,600 $ 0 $ 2,880 Transferred in during August 70,000 64,000 Good Units completed & T.O. 1,600 Normal Spoilage 400 Abnormal Spoilage 6.000 Work in Process, August 31 $206,080 $89.100 $241,200 Costs Added During August All direct materials are added at the end of the process in Department 3. Conversion costs are added evenly throughout the process. The beginning work in process is 40% complete as to conversion costs. The ending work in process is 30% complete as to conversion costs. Inspection occurs at the 100% of completion stage. Use two decimal places for your cost per equivalent unit. Required: 1. Prepare a cost of production report for Department 3 for August using the Weighted-Average method of process costing. 2. Prepare the journal entries to record: a. The transfer of cost from Department 2 to Department 3 during August. b. The current direct materials and conversion costs added during August. c. The transfer of costs from Department 3 to Department 4 during August. d. The cost of the abnormal spoilage