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Need help filling the report and doing the journal entries AutoSave On 8 lastnameMgrt3 - Saved - File Home Insert Draw Page Layout Formulas Data

Need help filling the report and doing the journal entries
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AutoSave On 8 lastnameMgrt3 - Saved - File Home Insert Draw Page Layout Formulas Data Review View Help B26 B E C D 1 3 Please complete the problem as follows: 5 6 7 bo Company produces its product through a single processing department. Direct materials are added at the 8 Jinning of the process. Direct labor and overhead are added to the product evenly throughout the process. 9 company uses monthly reporting periods for its weighted average process cost accounting. Following is the 10 eral ledger account detail for November showing the entries that were made for the Work in Process 11 bunt. 12 13 Work in Process Inventory Acct. No. 133 Explanation Debit Credit Balance 15 1-Nov Balance 40,600 16 30-Nov Direct Materials 52,000 92,600 17 30-Nov Direct Labor 227,000 319,600 18 30-Nov Applied Overhead 90,800 410,400 19 20 4,750 units of beginning goods in process consisted of $14,000 of direct materials, $19,000 of direct labor, 21 $7,600 of factory overhead. This makes up the $40,600 beginning balance. During November, the company 22 shed and transferred 51,250 units of its product to finished goods. At the end of the month, the goods in 23 cess inventory consisted of 6,000 units that were 100% complete with respect to direct materials and 25% 24 plete with respect to direct labor and factory overhead. 14 Date $ 25 27 quired (All three are part of this problem.) 28 29 Prepare the company's process cost summary for November using the weighted average method. See report below. 30 31 32. Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished goods inventory. 33 34 Record sale of all completed units on account for $650,000. 35 36 37 Physical Units Equivalent Units (EU) 38 Conversion Costs 39 Quantities Materials Direct Labor Factory Overhead 40 Units to be accounted for 41 Work in process, beginning 26 27 quired (All three are part of this problem.) 28 29 Prepare the company's process cost summary for November using the weighted-average method. See report below. 30 31 32 Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished goods inventory. 33 34 Record sale of all completed units on account for $650,000. 35 36 37 Physical Units Equivalent Units (EU) 38 Conversion Costs 39 Quantities Materials Direct Labor Factory Overhead 40 Units to be accounted for 41 Work in process, beginning 42 Started into production 43. Total units 44 Units accounted for 45 Transferred out 46 Work in process, ending 47 Total units 48 49 Costs Materials Direct Labor Factory Overhead Totals 50 Costs to be accounted for 51 Beginning WIP 52 Costs added during month 53 Total costs to be accounted for 54 Equivalent units 55 Unit costs 56 57 Cost Reconciliation 58 Costs accounted for 59 Transferred out 60 Work in process, ending 61 Direct Materials 62 Direct Labor 63 Factory Overhead 64 Total costs 65 66 Additional support computations: 67 DO OS EX PR BYN Class Notes In-class

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