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eBook Weighted Average Method, Journal Entries Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Calculator Print item Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The tollowing table summarizes the production activity and coots for February Molding Assembly Beginning inventories: Physical units 10,0008,000 Costs: Transferred in Direct materials Conversion costs Current production: $45,200 $22,000 13,800 $16,800 25,000 Units started Units transferred out Costs 30,00035 35,000 Transferred in $56,750 $39,550 Direct materials . Previous Check My Work 3 more Check My Work uses remaining 337 PM ^ ENG 17/02/2019 Direct materials $56,750 $39,550 Conversion costs $106,900 $136,500 Percentage of completion Beginning inventory 40% 50% Ending inventory Required: 1. Using the weighted average method, prepare the following for the Molding Department: a. A physical flow schedule 80 50 Molding Department, Physical flow schedule: Units to account for: Total units to account for Units accounted for: Units completed and transferred out Previous Check My Work 3 more Check My Work uses remaining 3:37 PM 17/02/2019 eBook Calculator Print Item Total units to account for Units accounted for Units completed and transferred out: Total units accounted for b. An equivalent units calculation Total equivalent units Direct Materials Conversion Costs c. Calculation of unit costs. Round your intermediate computations and final answer to four decimal places. per unit d. Calculate the cost of ending work in process and cost of goods transferred out. Round your answers to the nearest dollar Cost of ending work in process: Cost of goods transferred out: e. A cost reconciliation. When required, round your answers to the nearest dollar Costs to account for: Previous Check My Work 3 more Check My Work uses remaining 3:38 PM 17/02/2019 m/ilm takessonment take ssignmentMain.do?m oker assignments takeAsanmen SessionLocator assignment takean rogress eBook Calculator Print Item e. A cost reconciliation. When required, round your answers to the nearest dollar Costs to account for: Beginning work in process Costs incurred Total costs to account for Costs accounted for: Transferred out Ending work in process Total costs accounted for 2. Prepare Journal entries that show the conversion costs are recorded, flow of manufacturing costs for the Molding Department.(a) Materials are added at the beginning of the process, (b) and (c) units are transferred to the Assembly Department. When required, round your answers to the nearest dollar b. Previous Check My Work 3 more Check My Work uses remaining @ ^ t044c) ENG 3:38 PM 7/02/2019 , eBook Calculator Print Item conversion costs are recorded, and (c) units are transferred to the Assembly Department. When requaired, round your answers to the nearest dollar. b. 3. Repeat Requirements 1 and 2 for the Assembly Department. a. A physical flow schedule: Assembly Department, Physical flow schedule: Units to account for: Total units to account for Units accounted for Units completed and transferred out Previ Check My Work 3 more Check My Wiork uses remaining 3:38 PM 17/02/2019 eBook Calculator Print Item 3. Repeat Requirements 1 and 2 for the Assembly Department. a. A physical flow schedule: Assembly Department, Physical flow schedule: Units to account for: Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for b. An equivalent units calculation Total Equivalent Units Direct Materials Conversion Costs Teancferred In Previous Check My Work 3 more Check My Work uses remaining 3-38 PM 17/02/2019 A4 ENG eBook Calculator Print Item Direct Materials Conversion Costs Transferred In Calculate the total unit costs. Round your intermediate computations and final answer to four decimal places per unit d. Calculate the cost of ending work in process and cost of ods transferred out. Round your answers to Cost of ending work in process: Cost of goods transferred out: e. A cost reconciliation. If required, round your answers to the nearest dollar Costs to account for: Beginning work in process Costs incurred Total costs to account for Costs accounted for: Transferred out Ending work in process Total costs accounted for ote Cnet reconriliation totale differ due to undinnernr Previous Check My Work 3 more Check My Work uses remaining 3:38 PM 17/02/2019 eBook Calculator Print Item Beginning work in process Costs incurred Total costs to account for Costs accounted for: Transferred out Ending work in process Total costs accounted for Note: Cost reconciliation totals differ due to rounding error. Prepare journal entries that show the flow of manufacturing costs for the Assembly Department. (a) Materials are added at the end of the process, (b) conversion costs are recorded, and (c) the units are transferred to Finished Goods. a. b. Previous Check My Work 3 more Check My Work uses remaining 3:38 PM 4ENG 17/02/2019