Weighted Average Method, Journal Entries Muskoge Company uses a process-costing 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 Direct materials $45,200 $22,000 $13,800 $16,800 Conversion costs Current production: 25,000 ? Units started Units transferred out 30,000 35,000 Costs: Transferred in ? Direct materials $56,250 $39,550 Conversion costs $103,500 $136,500 Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 1. Using the weighted average method, prepare the following for the Molding Department: a. A physical flow schedule 10,000 25,000 35,000 Molding Department, Physical flow schedule: Units to account for: Units, beginning work in process Units started in February Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units, ending work in process 20,000 10,000 5,000 Total units accounted for 35,000 b. An equivalent units calculation Total equivalent units Direct Materials Conversion Costs X C. Calculation of unit costs. Round your intermediate computations and final answer to four decimal places. X 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. When required, round your answers to the nearest dollar. Costs to account for: Beginning work in process 35,800 Costs incurred 159,750 Total costs to account for 195,550 Costs accounted for: Transferred out Ending work in process Total costs accounted for 195,550