Weighted Average Method, Journal Entries Muskoge Company uses a process-casting system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the 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 following table summarizes the production activity and costs for February Molding Assembly Beginning Inventories: Physical units 10,000 8,000 Costs: Transferred in $45,200 Direct materials $22,000 Conversion costs $13,800 $16,800 Current production: Units started ? 25,000 30,000 Units transferred out 35,000 Costs: Transferred in ? Direct materials $56,250 $39,550 Conversion costs 5103,500 $136,500 Percentage of completion: B Check My Work Previous All work saved Save and Submit Assignment for Grading MacBook Air both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for February Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: Transferred in $45,200 Direct materials Conversion costs $22.000 $13,800 $16,800 Current production: Units started 25,000 ? Units transferred out 30,000 35,000 Costs: Transferred in ? Direct materials 556,250 $39,550 Conversion costs $103,500 $136,500 40% 50% Percentage of completion Beginning inventory Ending inventory Required: BO 50 Check My Work Previous All work saved Save and Exk Submit Assignment for Grading MacBook Air eBook b. An equivalent units calculation Total equivalent units Direct Materials 35,000 Conversion Costs 34,000 c. Calculation of unit costs. Round your intermediate computations and final answer to four decimal places. 11.0052 x per unit . Collate 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: A cost reconciliation. When required, round your answeis to the nearest dollar. Costs to account for Beginning work in process Costs incurred Yotal costs to account for Costs accounted for Transferred out Ending work in process Total cost accounted for Check My Work Previous All work saved Save and Exit Submit Assignment for Grading MacBook Air k eBook d. Costing out er ding work in process is done by computing the cost of each input and then adding to obtain the total. The valuation of cost of goods transferred out implified as it is the tot un cont multiplied by the units completed t. Reconciliation is making sure that the costs assigned to goods or services completed and EWIP are equal to the costs to account for 2. Prepare journal entries that show the flow of manufacturing costs for the Molding Department. (a) Materials are added at the beginning of the process, (b) conversion costs are recorded, and (units are transferred to the Assembly Department. When required, round your answers to the nearest dollar. a. 0 0 DMW 2. An example of journal entries showing the flow of costs lustrated above Exit 6.5. 3. Repeat Requirements 1 and for the Assembly Department a. A physical flow schedule: Check My Work Previous All work saved Save and it Submitment for Grading MacBook Air NISSE KIN 104 boek Corn innovation work ebook 2. An example of journal entries showing the flow of costs is illustrated above Exhibit 6.5. 3. Repeat Requirements 1 and 2 for the Assembly Department a. A physical now schedule Assembly Department, Physical flow schedules Units accounted for: Total units to account for Units accounted for Units completed and transferred out 101 10 Total units accounted for Chaus 3. Read the problem carefully. There are some differences in how the material additions are accounted for Od My in Previous All worked Save and Sub Assignment for Grading MacBook Air 4 DISC ENTH Corp KIN 10 book > Cerpnovation ework eBook B. An equivalent units calculation Total Equivalent Units Direct Materials Conversion Costs Transferred in c. 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 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. 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 Deck My Work Previous All work saved Save and Submit Assignment for Grading MacBook Air UM LOQUORA SJC) AB INTRA 2 CL KIN 1304 hock Corningvation Homework Book so 3. Read the problem carefully. There are some differences in how the material additions are accounted for 0 Prepare youmal 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 0 O Chew 3. Read the problem carefully. There are some differences in how the traditions are account for wy Paycorect Old My W Previous Save and Submissigment for Grading MacBook Air Weighted Average Method, Journal Entries Muskoge Company uses a process-casting system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the 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 following table summarizes the production activity and costs for February Molding Assembly Beginning Inventories: Physical units 10,000 8,000 Costs: Transferred in $45,200 Direct materials $22,000 Conversion costs $13,800 $16,800 Current production: Units started ? 25,000 30,000 Units transferred out 35,000 Costs: Transferred in ? Direct materials $56,250 $39,550 Conversion costs 5103,500 $136,500 Percentage of completion: B Check My Work Previous All work saved Save and Submit Assignment for Grading MacBook Air both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for February Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: Transferred in $45,200 Direct materials Conversion costs $22.000 $13,800 $16,800 Current production: Units started 25,000 ? Units transferred out 30,000 35,000 Costs: Transferred in ? Direct materials 556,250 $39,550 Conversion costs $103,500 $136,500 40% 50% Percentage of completion Beginning inventory Ending inventory Required: BO 50 Check My Work Previous All work saved Save and Exk Submit Assignment for Grading MacBook Air eBook b. An equivalent units calculation Total equivalent units Direct Materials 35,000 Conversion Costs 34,000 c. Calculation of unit costs. Round your intermediate computations and final answer to four decimal places. 11.0052 x per unit . Collate 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: A cost reconciliation. When required, round your answeis to the nearest dollar. Costs to account for Beginning work in process Costs incurred Yotal costs to account for Costs accounted for Transferred out Ending work in process Total cost accounted for Check My Work Previous All work saved Save and Exit Submit Assignment for Grading MacBook Air k eBook d. Costing out er ding work in process is done by computing the cost of each input and then adding to obtain the total. The valuation of cost of goods transferred out implified as it is the tot un cont multiplied by the units completed t. Reconciliation is making sure that the costs assigned to goods or services completed and EWIP are equal to the costs to account for 2. Prepare journal entries that show the flow of manufacturing costs for the Molding Department. (a) Materials are added at the beginning of the process, (b) conversion costs are recorded, and (units are transferred to the Assembly Department. When required, round your answers to the nearest dollar. a. 0 0 DMW 2. An example of journal entries showing the flow of costs lustrated above Exit 6.5. 3. Repeat Requirements 1 and for the Assembly Department a. A physical flow schedule: Check My Work Previous All work saved Save and it Submitment for Grading MacBook Air NISSE KIN 104 boek Corn innovation work ebook 2. An example of journal entries showing the flow of costs is illustrated above Exhibit 6.5. 3. Repeat Requirements 1 and 2 for the Assembly Department a. A physical now schedule Assembly Department, Physical flow schedules Units accounted for: Total units to account for Units accounted for Units completed and transferred out 101 10 Total units accounted for Chaus 3. Read the problem carefully. There are some differences in how the material additions are accounted for Od My in Previous All worked Save and Sub Assignment for Grading MacBook Air 4 DISC ENTH Corp KIN 10 book > Cerpnovation ework eBook B. An equivalent units calculation Total Equivalent Units Direct Materials Conversion Costs Transferred in c. 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 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. 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 Deck My Work Previous All work saved Save and Submit Assignment for Grading MacBook Air UM LOQUORA SJC) AB INTRA 2 CL KIN 1304 hock Corningvation Homework Book so 3. Read the problem carefully. There are some differences in how the material additions are accounted for 0 Prepare youmal 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 0 O Chew 3. Read the problem carefully. There are some differences in how the traditions are account for wy Paycorect Old My W Previous Save and Submissigment for Grading MacBook Air