The inspection point is at the end of the process for molding department and at the 30% stage of productionfor the finishing department. Normal spoilage is 10% of all good units that pass inspection.

Required (Round unit-cost calculations to four decimal places when necessary. Round final total to the nearest dollar.): 1. For molding department, determine the (a) cost per equivalent unit, total costs assigned (b) to abnormal spoilage, (c) to units completed and transfer out and (d) to units in ending work in process. 2. For molding department, prepare the journal entries record (a) the transfer out of good units completed and (b) the abnormal spoilage. 3. For finishing department, determine the (a) cost per equivalent unit, total costs assigned (b) to abnormal spoilage, (c) to units completed and transfer out, and (d) to units in ending work in process.

Kongkong Company manufactures bicycles in two departments: molding and finishing. The company uses the FIFO method of process costing for molding department, and the weighted-average method for finishing department. Conversion costs are added evenly during the process. Direct material costs are added at the beginning of the process in the molding department and at 50% completion of production in the finishing department. November data for both departments are as follows: Kongkong Company manufactures bicycles in two departments: molding and finishing. The company uses the FIFO method of process costing for molding department, and the weighted-average method for finishing department. Conversion costs are added evenly during the process. Direct material costs are added at the beginning of the process in the molding department and at 50% completion of production in the finishing department. November data for both departments are as follows