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 $45,300 Direct materials $22,000 Conversion costs $13,800 $20,450 Current production: Units started 25,000 Units transferred out 30,000 35,000 Costs: Transferred in Direct materials $56,400 $40,250 Conversion costs $106,900 $140,150 Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 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. $ 5.7329 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: $ 3.44 X Cost of goods transferred out: $ 173,700 e. A cost reconciliation. When 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