appropriate cell.) Begin by recording the transfer from the cutting department to the stitching department. Journal Entry Date Accounts Now record the transfer from the stitching department to Finished Goods. Supreme Sports produces basketballs in two departments: cutting and stitching. Each department has one direct-cost category (direct The following is a summary of the March 2020 operations of the stitching department: materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. Data table Weighted-average assignment of costs More info Requirements After cutting, basketballs are immediately transferred to the stitching department. Direct material is added when the stitching process is 85% complete. Conversion costs are added evenly during stitching operations. After stitching is completed, basketballs are immediately transferred to Finished Goods. Supreme Sports uses the FIFO method of process costing. 1. Summarize total stitching department costs for March 2020 and assign these costs to units completed (and transferred out) and to units in ending work-in-process inventory. 2. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished Goods. 3. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the stitching department under the weighted-average method and the FIFO method. Requirement 1. Summarize total stitching department costs for March 2020 and assign these costs to units completed (and transferred out) and to units in ending work-in-process inventory. Begin by completing the following table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) Now record the transfer from the stitching department to Finished Goods. work in process consists of only the The weighted-average method process. Hence, in this case, the weighted-average method results in a by assuming that cost of units completed and transferred out and a are completed and transferred out, while ending work-in-process inventory relative to FIFO. in beginning work in process are placed in ending work in appropriate cell.) Begin by recording the transfer from the cutting department to the stitching department. Journal Entry Date Accounts Now record the transfer from the stitching department to Finished Goods. Supreme Sports produces basketballs in two departments: cutting and stitching. Each department has one direct-cost category (direct The following is a summary of the March 2020 operations of the stitching department: materials) and one indirect-cost category (conversion costs). This problem focuses on the stitching department. Data table Weighted-average assignment of costs More info Requirements After cutting, basketballs are immediately transferred to the stitching department. Direct material is added when the stitching process is 85% complete. Conversion costs are added evenly during stitching operations. After stitching is completed, basketballs are immediately transferred to Finished Goods. Supreme Sports uses the FIFO method of process costing. 1. Summarize total stitching department costs for March 2020 and assign these costs to units completed (and transferred out) and to units in ending work-in-process inventory. 2. Prepare journal entries for March transfers from the cutting department to the stitching department and from the stitching department to Finished Goods. 3. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the stitching department under the weighted-average method and the FIFO method. Requirement 1. Summarize total stitching department costs for March 2020 and assign these costs to units completed (and transferred out) and to units in ending work-in-process inventory. Begin by completing the following table to summarize the physical and equivalent units. (For amounts with a zero balance, make sure to enter "0" in the appropriate cell.) Now record the transfer from the stitching department to Finished Goods. work in process consists of only the The weighted-average method process. Hence, in this case, the weighted-average method results in a by assuming that cost of units completed and transferred out and a are completed and transferred out, while ending work-in-process inventory relative to FIFO. in beginning work in process are placed in ending work in