Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments:
Question:
Required:
1. Using the weighted average method, prepare the following for the Molding Department:
a. A physical flow schedule
b. An equivalent units calculation
c. Calculation of unit costs. Round to four decimal places.
d. Cost of ending work in process and cost of goods transferred out
e. A cost reconciliation
2. Prepare journal entries that show the flow of manufacturing costs for the Molding Department. Materials are added at the beginning of the process.
3. Repeat Requirements 1 and 2 for the Assembly Department.
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Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
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