Assembly DepartmentBeginning work in process inventoryUnits started this periodUnits completed and transferred outEnding work in process inventoryCost of beginning work in processDirect materialsConversionCosts added this monthDirect materialsConversionView transaction listJournal entry worksheet< 1Note: Enter debits before credits.DateNovember 30Record entryUnitsGeneral Journal3,00011,30010,0004,300Clear entryComplete forDirectMaterials70%$ 1,533761QS 16-13 (Algo) Weighted average: Entry to transfer costs LO P4Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting department. Usethe weighted average method.11,90721,819Record the transfer of costs from the Assembly department to the Paintingdepartment (weighted average method.)80%PercentComplete forConversion30%$ 2,294Debit33,72630%CreditView general journal

Name: Assembly DepartmentBeginning work in process inventoryUnits started t
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Description: Assembly DepartmentBeginning work in process inventoryUnits started this periodUnits completed and transferred outEnding work in process inventoryCost of beginning work in processDirect materialsConversionCosts added this monthDirect materialsConver

The journal entries are prepared to record the transactions on regular basis. The cost of goods…

Business

Accounting

Prepare the November 30 Journal entry to record the transfer of costs from the Assembly department to the Painting department. Use the weighted average method. View transaction list Journal entry worksheet < Record the transfer of costs from the Assembly department to the Painting department (weighted average method.) Note: Enter debits before credits. >

Prepare the November 30 Journal entry to record the transfer of costs from the Assembly department to the Painting department. Use the weighted average method. View transaction list Journal entry worksheet < Record the transfer of costs from the Assembly department to the Painting department (weighted average method.) Note: Enter debits before credits. >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A. Prepare journal entries to record the transactions. B. Prepare T-accounts to show the flow of costs during the period from Material Inventory throughly Cost of Goods sold.
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The entry to recognize the completion and transfer of a job so that it can be placed in stock would include a.debiting Finished Goods and crediting Work in Process. b.debiting Work in Process and crediting Finished Goods. c.debiting Finished Goods and crediting Cost of Goods Sold. d.debiting Work in Process and crediting Cost of Goods Sold.
Required information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 a. Materials purchases (on credit). b. Direct materials used. View transaction list Journal entry worksheet