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Hi, can you post so I can see full figures and working please, Thanks very much :) Fast Company produces its product through two processing
Hi, can you post so I can see full figures and working please, Thanks very much :)
Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows Direct Materials Percent Complete Conversion Percent Complete Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Units 33,500 147,000 157,000 23,500 1000 80E Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 19,200 72,100 $ 91,300 161,300 965,120 1,126,420 $ 1,217,720 Required: 1. Prepare the Cutting department's production cost report for October using the welghted average method. 2. Prepare the October 31 journal entry to transfer the cost of completed units from cutting to Assembly Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the Cutting department's production cost report for October using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) FAST COMPANY --Cutting Department Production Cost Report - Weighted Average Method Required 1 Required 2 Prepare the Cutting department's production cost report for October using the weighted average method. (Round "Cost per EUP" to 2 dec FAST COMPANY-Cutting Department Production Cost Report - Weighted Average Method For Month Ended October 31 Unit reconciliation: Units to account for: Units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) Conversion Direct Materials % Complete EUP Units % Complete EUP Equivalent Units of Production Cost per equivalent unit of production Direct Materials Conversion Total costs - Equivalent units of production Costs EUP Costs EUP Direct Materials Conversion Units % Complete EUP % Complete EUP Equivalent Units of Production Cost per equivalent unit of production Direct Materials Conversion Total costs Costs Costs EUP EUP 0 0 + Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion EUP Cost per EUP Total cost Ending work in process Direct material Conversion 0 $ $ 0.00 $ 0.00 0 Total costs accounted for RA Required 2 > Required 1 Required 2 Prepare the October 31 journal entry to transfer the cost of completed units from cutting to Assembly. View transaction list Journal entry worksheet Record the transfer of goods to next department. Note: Enter debits before credits. Dato General Journal Debit Credit October 31 Record entry Clear entry View general Journal Step by Step Solution
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