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Someone help I dont know what Im doing wrong? Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two
Someone help I dont know what Im doing wrong?
Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two direct materials are added at the beginning of the process; in the Assembly Department, additional direct materia conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The fe February Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: $45,400 $22,000 Transferred in Direct materials Conversion costs Current production: Units started $13,800 $16,900 25,000 ? Units transferred out 30,000 35,000 Costs: 2 $56,250 $39,550 Transferred in Direct materials Conversion costs Percentage of completion: $106,500 $136,500 Check My Work O more Check My Work uses remaining Costs: Transferred in ? Direct materials $56,250 $39,550 Conversion costs $106,500 $136,500 Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 Required: 1. Using the FIFO method, prepare the following for the Molding Department: a. A physical flow schedule Muskoge Company Molding Department Physical Flow Schedule Units to account for: Units beginning work in process Units started in February (transferred in) 10,000 25,000 35,000 Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process 10,000 X 20,000 X Check My Work Omore Check My Work uses remaining Units to account for: Units, beginning work in process 10,000 25,000 Units started in February (transferred in) 35,000 Total units to account for Units accounted for: Units completed and transferred out: Started and completed X From beginning work in process 10,000 X 20,000 X Units, ending work in process 5,000 35,000 Total units accounted for With My Woermann Submit Assement for Grad All work saved Beginning work in process 62,300 Costs incurred 349,268 X Total cost to account for 411,560 x Costs accounted for Transferred out 385,000 x Ending work in process 26,676X Total costs accounted for 411,676 X Note: Cost reconciliation total differ by $1 due to rounding Prepare journal enties that show the flow of manufacturing costs for the Assembly Department () Materials are added at the end of the process, b) conversion costs are recorded, and (c) the units are transferred to finished Goods (1) Work in the Assembly X Haterials inventory (6) Work in Process Assembly Next Chem Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two direct materials are added at the beginning of the process; in the Assembly Department, additional direct materia conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The fe February Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: $45,400 $22,000 Transferred in Direct materials Conversion costs Current production: Units started $13,800 $16,900 25,000 ? Units transferred out 30,000 35,000 Costs: 2 $56,250 $39,550 Transferred in Direct materials Conversion costs Percentage of completion: $106,500 $136,500 Check My Work O more Check My Work uses remaining Costs: Transferred in ? Direct materials $56,250 $39,550 Conversion costs $106,500 $136,500 Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 Required: 1. Using the FIFO method, prepare the following for the Molding Department: a. A physical flow schedule Muskoge Company Molding Department Physical Flow Schedule Units to account for: Units beginning work in process Units started in February (transferred in) 10,000 25,000 35,000 Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process 10,000 X 20,000 X Check My Work Omore Check My Work uses remaining Units to account for: Units, beginning work in process 10,000 25,000 Units started in February (transferred in) 35,000 Total units to account for Units accounted for: Units completed and transferred out: Started and completed X From beginning work in process 10,000 X 20,000 X Units, ending work in process 5,000 35,000 Total units accounted for With My Woermann Submit Assement for Grad All work saved Beginning work in process 62,300 Costs incurred 349,268 X Total cost to account for 411,560 x Costs accounted for Transferred out 385,000 x Ending work in process 26,676X Total costs accounted for 411,676 X Note: Cost reconciliation total differ by $1 due to rounding Prepare journal enties that show the flow of manufacturing costs for the Assembly Department () Materials are added at the end of the process, b) conversion costs are recorded, and (c) the units are transferred to finished Goods (1) Work in the Assembly X Haterials inventory (6) Work in Process Assembly Next Chem Step by Step Solution
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