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The Codfather Inc. The Codfather Inc. is a seafood processing company operating in PEI. The company has two departments, cleaning and packaging. For the cleaning
The Codfather Inc. The Codfather Inc. is a seafood processing company operating in PEI. The company has two departments, cleaning and packaging. For the cleaning department, conversion costs are added evenly during the process and direct materials are added at the beginning of the process. Spoiled units are detected upon inspection at the end of the process. Normal spoilage is 10% of units completed. All completed work is transferred to the packaging department. Summary data for April 2023 are as follows: For the packaging department, conversions costs are added evenly during the process and direct materials are added at the end of the process. Spoiled units are detected upon inspection at the end of the process. Normal spoilage is 5% of units completed. All completed work is transferred to finished goods inventory. Summary data for April 2023 are as follows: Required: 1.) Using the weighted-average method, prepare production reports for both departments and prepare journal entries to record all activities in each department. 2.) Using the FIFO method, prepare production reports for both departments and prepare journal entries to record all activities in each department
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