G B D C E A F Co. Company produces its product through a single processing department Direct materials are added at the beginning 3 of the process. Direct labor and overhead are added to the product evenly throughout the process. The company uses e monthly reporting periods for its weighted average process cost accounting. Following is the general ledger account o detail for November showing the entries that were made for the Work in Process account 1 12 3 Work in Process Inventory Acct. No. 133 14 Date Explanation Debit Credit Balance 15 1-Nov Balance $ 10,650 16 30-Nov Direct Materials 58,200 68,850 17 30-Nov Direct Labor 213,400 282,250 18 30-Nov Applied Overhead 320,100 602,350 19 20 The 3,750 units of beginning goods in process consisted of $3,400 of direct materials, $2,900 of direct labor, and 54,350 21 of factory overhead. This makes up the $10,650 beginning balance. During November, the company finished and 22 transferred 50,000 units of its product to finished goods. At the end of the month, the goods in process inventory 23 consisted of 6,000 units that were 100% complete with respect to direct materials and 25% complete with respect to 24 direct labor and factory overhead. 25 26 27 Required 28 A 29 Prepare the company's process cost summary for November using the weighted average method. See report below. 30 31 B 32 Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished goods inventory. 33 34 C. Record sale of all completed units on account for $650,000