Albuny Compuny accumulates costs for its product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the proce ss. Partial Production Report; Journal Entries; Weighted- Average Method (LO 4-2, 4-3, 4-4, 4-5) Production Report For August 20x1 2. Cost per equivalent unit, total: $1.43 5. Work-in-Process Inventory (credi): $1,143,000 Equivalent Units Percentage of Completion with Respect to Converslon Physkal Units Direct Materlal Conversion Work in process, August 1 Units started duning August 40,000 80,000 80% Total units to account for 120,000 Units completed and transferred out during August Work in process, August 31 100,000 100,000 100,000 20,000 120,000 30% 20,000 6,000 Total units accounted for. kontrund) 162 Chapter 4 Process Costing and Hybrid Product-Costing Systems Direct Matertal $ 42,000 Conversion $ 305,280 784,400 $1,089,680 $1.227,680 Total $ 347,280 Work in process, August 1. Casts Incurred during August. Total costs to account for. 96,000 880,400 $138,000 Required: Use weighted-uverage process costing in completing the following requirements. 1. Prepare a schedule of equivalent units. 2. Compute the costs per equivalent unit. 3. Compute the cost of goods completed and trunserred out during August. 4. Compute the cost remaining in the work-in-process inventory on August 31. 5. Prepare a journal entry to record the transer of the cost of goods completed and transfered out during August.

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Problem 6-10 CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing Department, during June: Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the first process. Materials Conversion Materials Conversion Cost of ending work in process inventory Cost of units completed and transferred out Cost Reconciliation Total cost accounted for Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the period Total cost to be accounted for Costs accounted for as follows: Transferred to next department: Work in process June 30 Materials Conversion Materials Units 50,200 432,000 382,000 100,200…