Question: part 3 of problem 6.36 and problem 6.37 Weighted Average Method, Journal Entries Muskogee Company Use a process-costing system. The company manufactures a product that
Weighted Average Method, Journal Entries Muskogee Company Use a process-costing system. The company manufactures a product that 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: Using the weighted average method, prepare the following for the Molding Department. A physical flow schedule An equivalent units calculation Calculation of unit costs. Round to four decimal places. Cost of ending work in process and cost of goods transferred out A cast reconciliation Prepare journal entries that show the flow of manufacturing costs for the Molding Department. Materials are added at the beginning of the process. Repent Requirements I and 2 for the Assembly Department. Problem 6.37 FIFO Method, Two-Department Analysis Refer to the data in Problem 6.36. the requirements in Problem 6.36 using the FIFO method
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