Chico Company produces its product through a single processing department. Direct materials are added at

the beginning of the process. Direct labor and overhead are added to the product evenly throughout the

process. The company uses monthly reporting periods for its weighted$-$average process cost accounting.

Following is the general ledger account detail for November showing the entries that were made for the Work

in Process account. $($Remember$,$ debits to WIP are the same as costs added during the time period.$)$

The $5,000$ units of beginning goods in process consisted of $$14,000$ of direct materials, $$19,000$ of direct labor,

and $$7,600$ of factory overhead. This makes up the $$40,600$ beginning balance. During November, the company

finished and transferred $60,000$ units of its product to finished goods. At the end of the month, the goods in

process inventory consisted of $6,000$ units that were $100\%$ complete with respect to direct materials and $25\%$

complete with respect to direct labor and factory overhead.

Required $($All three are part of this problem.$)$

A$.$ Prepare the company's process cost summary for November using the weighted$-$average method. See

B$.$ Prepare the journal entry dated November $30$ to transfer the cost of the completed units to finished goods

C$.$ Record sale of all completed units on account for $$650,000.$

Hint: Your cost of goods transferred should be $$396,000.$

Additional support computations: