Weighted Average Method, Journal Entries 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.

Costs to account for:

Costs accounted for:

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b$.$ To calculate equivalent units, weighted average counts prior$-$period output in BWIP as belonging to the current period. All units are output in the current

period.

c$.$ Unit cost $=$ Unit direct materials cost $+$ Unit conversion costs

d$.$ Costing out ending work in process is done by computing the cost of each input and then adding to obtain the total. The valuation of cost of goods

transferred out is simplified as it is the total unit cost multiplied by the units completed.

e$.$ Reconciliation is making sure that the costs assigned to goods or services completed and EWIP are equal to the costs to account for.

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.

a$.$

$$

Materials Inventory

$$

b$.$

Conversion Costs$-$Control

$$

$$

$$

c$.$

Work in Process$-$Molding

$$

$$ Repeat Requirements $1$ and $2$ for the Assembly Department.

a$.$ A physical flow schedule:

Assembly Department, Physical flow schedule:

Units to account for:

Units, beginning work in process $$

Units started in February $($transferred in$)$

Total units to account for

Units accounted for:

Units completed and transferred out:

Started and completed $$

From beginning work in process $$

Units, ending work in process $$

Total units accounted for

Feedback

$$ Check My Work

Read the problem carefully. There are some differences in how the material additions are accounted for.

b$.$ An equivalent units calculation

Total Equivalent Units

Direct Materials

Conversion Costs

Transferred In

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.

Costs to account for:

Costs accounted for:

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.

a$.$

$$

b$.$

Conversion Costs$-$Control $$

C$.$

Work in Process$-$Assembly $$

Muskoge Company uses a process$-$costing system. The company manufactures a product that is 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:

Molding Assembly

Required:

Using the weighted average method, prepare the following for the Molding Department:

a$.$ A physical flow schedule

Molding Department, Physical flow schedule:

Units to account for:

Units accounted for:

Units completed and transferred out:

Started and completed $$

From beginning work in process

Units, ending work in process

$$

Total units accounted for