Chapter 16 Process Costing and Analysis 751 Braun Company produces its product through a single processingd at the beginning of the process. Conversion costs are added to the product evenly throughout the pro- Weighted average: cess. The company uses monthly reporting periods for its weighted-average process costing. The Work Process cost summary: in Process Inventory account had a balance of $21,300 on November 1, which consisted of $6.800 of equivalent units nt. Direct materials are added Problem 16-3B direct materials and $14,500 of conversion costs. C2 C3 P4 During the month the company incurred the following costs: Direct materials . Conversion. $ 116.400 1,067,000 During November, the company finished and transferred 100,000 units of its product to finished goods. At the end of the month, the work in process inventory consisted of 1 with respect to direct materials and 25% complete with respect to conversion. 2,000 units that were 100% complete Required 1. Prepare the company's process cost summary for November using the weighted-average method. 2. Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished Check (1) Cost transfem ished goods, out to fni $1,160,000 goods inventory Switch Co. manufactures a single product in one department. Direct labor and overhead are added evenly Problem 16-4B