Question: I need help with b and c please and thank you! B D F G 1 9 16 3 4 Please complete the Problem as

 I need help with b and c please and thank you!

B D F G 1 9 16 3 4 Please complete the

I need help with b and c please and thank you!

B D F G 1 9 16 3 4 Please complete the Problem as follows: 5 6 7 Chico Company produces its product through a single processing department. Direct materials are added at the 8 beginning of the process. Direct labor and overhead are added to the product evenly throughout the process. The company uses monthly reporting periods for its weighted average process cost accounting. Following is the general 10 ledger account detail for November showing the entries that were made for the Work in Process account. 11 12 13 Work in Process Inventory Acct. No. 133 14 Date Explanation Debit Credit Balance 15 1-Nov Balance $ 40,600 30-Nov Direct Materials 52,000 92,600 17 30-Nov Direct Labor 227,000 319,600 18 30-Nov Applied Overhead 90,800 410,400 19 The 4,750 units of beginning goods in process consisted of $14,000 of direct materials, $19,000 of direct labor, and 21 $7,600 of factory overhead. This makes up the $40,600 beginning balance. During November, the company finished and 22 transferred 51,250 units of its product to finished goods. At the end of the month, the goods in process inventory 23 consisted of 6,000 units that were 100% complete with respect to direct materials and 25% complete with respect to 24 direct labor and factory overhead. 25 26 27 Required (All three are part of this problem.) 28 A Prepare the company's process cost summary for November using the weighted average method. See report below. 30 31 B. Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished goods inventory. 33 34 C. Record sale of all completed units on account for $650,000. 35 29 32 36 37 Physical Units 38 Equivalent Units (EU) Conversion Costs Materials Direct Labor Factory Overhead 39 40 41 42 Quantities Units to be accounted for: Work in process, beginning Started into production Total units Units accounted for: Transferred aut 1 2-5 6-8 43 44 45 9 Production Cost Report DO QS EX PR BYN Class Notes In-c Table Illustrations Pivot Table Recommended Pivot Tables Add- ins Recommended Charts Maps PivotCH Tables Charts H56 fx B D E F G H A 28 A. 29 Prepare the company's process cost summary for November using the weighted average method. See report below. Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished goods inventory 30 31 B 32 33 34 C 35 36 37 38 Record sale of all completed units on account for $650,000 Physical Units Equivalent Units (EU) Conversion Costs Materials Direct Labor Factory Overhead 40 41 42 43 uantit Units to be accounted for Work in process, beginning Started into production Total units Units accounted for Transferred out Work in process, ending Total units 44 45 46 47 48 Materials Direct Labor Factory Overhead Totals 49 50 51 52 53 54 55 56 57 58 59 Costs Costs to be accounted for Beginning WIP Costs added during month Total costs to be accounted for Equivalent units Unit costs 60 Cost Reconciliation Costs accounted for: Transferred out Work in process, ending Direct Materials Direct Labor Factory Overhead Total costs 62 63 64 65 66 Additional support computations: 67 68 69 70 71 1 2-5 6-8 9 Production Cost Report DO QS EX PR BYN Class Notes In-class

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