laventory costs: Cost of goods finished and transferred to Finished goods during month: (3,500 x $3.75) Cost of work in process, end of month: 13, 125 Materials (2,000 25 $2.00) Labor (2,000 25 $1.00) Factory overhead ( 1,000 25 x S75) 51, 000 500 Total production costs accounted for What is the jourmal entry to record completed production and transfer to the warehous a. Work in process b. Finished goods c. Finished goods Finished goods Work in process Factory overhead Mork in process 13, 125 1,875 3, 000 13, 125 13, 125 1,875 3, 000 13, 125 Finished goods units of production are computed using the average method. The percentage of completion for the current period only is included in the calculation of the Beginning Work inEnding Work in No Yes No Yes b. No Yes Yes d. 16. The production report for Matthews, Inc. included the following information for May 7,800 45. 300 5, 600 20 % Beginning units in process Units transferred to finished goods 40% Ending units in process How many units were started during the period? a. 43,100 b. 58,700 c. 47,500 d. 50,900 17. Michael Company had 2,000 units in work in process at January 1 that were 80 percent complete. During January, 15,000 units were completed. At January 31, 4,000 units remained in work in process that were 40 percent complete. Using the average cost method, how many units were started during January? a. 21,000 b. 18,200 c. 17,000 d. 19,000 18. The records of Andrews Company reflect the following data: Work in process, beginning of the month-4,500 units; 1 /3 completed at a cost of $2,400 for materials $825 for labor, and $5,000 for overhead. Production costs for the month materials-$20,695; labor- $13,050, overhead-$41,500 Units completed and transferred to finished goods-35,000 Work in process, end of month-3,000 units; 3/4 completed