Q1

Weighted Average Method, Journal Entries February: Using the weighted average method, prepare the following for the Molding Department: A physical flow schedule b. An equivalent units calculation c. Calculation of unit costs. Round your intermediate computations and final answer to four decimal places. per unit d. Calculate the cost of ending work in process and cost of goods transferred out. Round your answers to the nearest dollar. Cost of ending work in process: $ Cost of goods transferred out: $ e. A cost reconciliation. When required, round your answers to the nearest dollar. 2. Prepare journal entries that show the flow of manufacturing costs for the Molding Department. (a) Materials are added at the beginning of the process, (b) conversion costs are recorded, and (c) units are transferred to the Assembly Department. When required, round your answers to the nearest dollar. Feedback V Check My Work 2. An example of journal entries showing the flow of costs is illustrated above Exhibit 6.5. 3. Repeat Requirements 1 and 2 for the Assembly Department. a. A physical flow schedule: Assembly Department, Physical flow schedule: Units to account for: c. Calculate the total unit costs. Round your intermediate computations and final answer to four decimal places. $ per unit d. Calculate the cost of ending work in process and cost of goods transferred out. Round your answers to the nearest dollar. Cost of ending work in process: $ Cost of goods transferred out: \$ e. A cost reconciliation. If required, round your answers to the nearest dollar. Note: Cost reconciliation totals differ due to rounding error. Prepare journal entries that show the flow of manufacturing costs for the Assembly Department. (a) Materials are added at the end of the process, (b) conversion costs are recorded, and (c) the units are transferred to Finished Goods