Information about Hoffman Company's process-costing system:

Assembly department data:

Total costs to account for:

total costs accounted for:

Requirements:

Only the last requirement needs an answer

Hoffman Company manufactures car seats in its Boise plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department. (Click the icon to view information about Hoffman Company's process-costing system.) * More Info The process-costing system at Hoffman Company has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the assembly department finishes work on each car seat, it is immediately transferred to testing. Hoffman Company uses the weighted average method of process costing. Data for the assembly department for October 2017 are as follows: (Click the icon to view the assembly department data.) (Click the icon to view the total costs to account for.) (Click the icon to view the total costs accounted for.) Data Table Physical Units Direct Conversion (Car Seats) Materials Costs Work in process, October 18 4,000 $1,248,000 $241,650 Started during October 2017 22,500 Completed during October 2017 26,000 Work in process, October 31 500 Total costs added during October 2017 $4,635,000 $2,575,125 Degree of completion: direct materials, 2%; conversion costs, 45%. Degree of completion: direct materials, ?%; conversion costs, 65%. Total costs to account for Total Direct Conversion Production Costs Materials Costs $ 1,489,650 $ 1,248,000 $ 241,650 7,210,125 4,635,000 2,575,125 Work in process, beginning Costs added in current period $ Total costs to account for 8,699,775 $ 5,883,000 $ 2,816,775 Total costs accounted for Total Direct Conversion Production Costs Materials Costs $ 8,554,000 $ 5,772,000 $ 2,782,000 145,775 111,000 34,775 Completed and transferred out Work in process, ending Total costs accounted for $ 8,699,775 $ 5,883,000 $ 2,816,775 Prepare a set of summarized journal entries for all October 2017 transactions affecting Work in ProcessAssembly. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by recording the purchase and use of direct materials Journal Entry Debit Credit JE 1 Accounts Work in ProcessAssembly Department Accounts Payable 4,635,000 4,635,000 Record the conversion costs. Credit Journal Entry Accounts Work in ProcessAssembly Department Various Accounts Debit 2,575,125 JE 2 2,575,125 Prepare a journal entry to transfer out the cost of goods completed. Journal Entry Accounts JE 3 Work in ProcessTesting Department Work in Process-Assembly Department Credit Debit 8,554,000 8,554,000 Set up a T-account for Work in ProcessAssembly and post your entries to it. Work in Process-Assembly Bal. 1,489,650 Bal. JE 1 4,635,000 JE 3 JE 2 2,575,125 Bal. Bal