Weighted Average: Process cost summary, equivalent units, cost estimates.

Belda Co. makes organic juice in two departments: cutting and blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the Weighted Average method of process costing. During March, the cutting department completed and transferred 220,000 units to the blending department. Of the units completed, 10,000 were from beginning inventory and the remaining 210,000 were started and completed during the month. Beginning work in process was 75% complete with respect to direct materials and 60% complete with respect to conversion. The company has 40,000 units (50% complete with respect to direct materials and 30% complete with respect to conversion) in process at month-end. Information on the cutting department's costs of beginning work in process inventory and costs added during the month follows.

Of beginning work in process inventory: Direct Materials- $16,800 Conversion- $97,720

Added During the Month: Direct Materials- $223,200 Conversion- $1,233,960

1.) Prepare the cutting department's process cost summary for March using the Weighted Average method.

2.) Prepare the journal entry dated March 31 to transfer the cost of completed units to the blending department.

Costs Charged to Production Cost Of Beginning WIP: DM 97,720 114,520 Costs Incurred during period DM Conversion 1,233,960 1,457,160 1,571,680 Total Cost to Account For Unit Information Units to Accounf For Units Accounted For Completed and Transferred Out End WIP Total Units Acocunted For Beg WIP Units Started This Period Total Units to Account For Equivalent Units of Production(EUP): Units Completed and Transferred Out Units of Ending WIP Equivalent Units of Production CONV Cost Per EUP: Costs of Beginning WIP Costs Incurred this Period Total Costs Cost Assignment & Reconciliation Costs Transferred Out (COGM) DM Conversion Cost of Ending WIP DM Conversion Total Costs Accounted For