Tv 125% View Zoom Add Category Insert Table Chart + Checkpoint #1 Name Weighted Average Costing Process Costing Wanda Company produces its finished product in two processing departments--Mixing and Finishing. The following information is available for the month of March: Mixing Department: The beginning work-in-process inventory was S43,630 (531,680 direct materials and $11,950 conversion costs) and consisted of 2,200 units. During March, an additional 17,100 units were started into production. A total of 15,800 units were completed and transferred out to the Finishing Department. The ending work-in-process inventory consisted of 3,500 units which were 40% complete as to conversion costs. The following costs were incurred during March: direct materials $244,310; direct labor $150,000; and factory overhead S157.970. Direct materials are added at the beginning of the process in the Mixing Department and conversion costs are incurred evenly throughout the production process. Finishing Department: The beginning work in process inventory was $136,270 (S105.770 transferred-in costs and $30,500 conversion costs) and consisted of 3.100 units. During March, a total of 16,300 units were completed and transferred out to Finished Goods Inventory The ending work in process inventory consisted of 2,600 units which were 60% complete as to conversion costs. The following costs were incurred during March: direct materials S247.760; direct Labor $200,000; and factory overhead costs $205,284 Direct materials are added at the end of the process in the Finishing Department and conversion costs are incurred evenly throughout the production process, REQUIRED: A. Prepare a production report for March for the Mixing Department, B. Give the general journal entry to record the transfer of the completed units from the Mixing Department to the Finishing Department for March Account Titles DR CR ow Insert Table Chart 125% Zoom Category Checkpoint #1 DIET CU CEL ProcUS HIC ELS Deparun conversion costs are incurred evenly throughout the production process. REQUIRED: A. Prepare a production report for March for the Mixing Department B. Give the general journal entry to record the transfer of the completed units from the Mixing Department to the Finishing Department for March. Account Titles DR CR c. Prepare a production report for March for the Finishing Department. D. Give the general journal entry to record the completion of the units in the Finishing Department for March Account Titles DR CR E. Make the appropriate entries in the Work in Process T-accounts of the Mixing and Finishing Departments: WIP-Mixing WIP-Finishing F. Why is computing cost of goods sold in process costing problematie? 125% Weighted Average Process Costing Exam T Insert Table Chart Text Shape Medi View Zoom Add Category + Example WPS MIXING DEPARTMENT PRODUCTION REPORT AUGUST This spread I. SCHEDULE OF EQUIVALENT UNITS Beg WIP Units Started Total Units to Account For (Step 1) DM (Step 2) CC Units Transferred Out End WIP Total Units Accounted For Equivalent Units of Ppoduction II. COMPUTATION OF PER UNIT COSTS BEG WIP CURRENT COSTS TOTAL COSTS + EQUIV. UNITS UNIT COST 1 DM CC Totals ASSIGNMENT OF COSTS TO PRODUCTION Cost of Goods Manufactured: Ending Work in Process: DM CC Total Ending Work in Process Total Cost Assigned 12 MacBook Air 20 888 125% Zoom Weighted Average Process Costing Example sul T Table Chart Text Shape Media Comme View Add Category Insert + Example WPS ASSIGNMENT OF COSTS TO PRODUCTION Cost of Goods Manufactured: Ending Work in Process: DM Total Ending Work in Process Total Cost Assigned BAKING & FROSTING DEPARTMENT PRODUCTION REPORT AUGUST SCHEDULE OF EQUIVALENT UNITS Beg WIP Units Transferred-In Total Units to Account For (Step 1) T-IN (Step 2) CC (Step 3) DM Units Completed End WIP Total Units Accounted For Equivalent Units of Production II. COMPUTATION OF PER UNIT COSTS BEG WIP CURRENT COSTS TOTAL COSTS EQUIV. UNITS UNIT COST + T-IN CC DM Totals 12 80 F3 F4 15 76 1 # ( $ & 7 Spe Moda Com Example WPS I. SCHEDULE OF EQUIVALENT UNITS Beg WIP Units Transferred-In Total Units to Account For (Step 1) T-IN (Step 2) CC (Step 3) DM Units Completed End WIP Total Units Accounted For Equivalent Units of Production COMPUTATION OF PER UNIT COSTS BEG WIP CURRENT COSTS TOTAL COSTS EQUIV. UNITS UNIT COST + / T-IN DM Totals ASSIGNMENT OF COSTS TO PRODUCTION Cost of Goods Manufactured: Ending Work in Process: T-IN CC DM Total Ending Work in Process Total Cost Assigned 12 BO 888 F3 F4 F5 F1 F2 & @ # EA