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. >
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
![Assembly Department
Beginning work in process inventory
Units started this period
Units completed and transferred out
Ending work in process inventory
Cost of beginning work in process
Direct materials
Conversion
Costs added this month
Direct materials
Conversion
View transaction list
Journal entry worksheet
< 1
Note: Enter debits before credits.
Date
November 30
Record entry
Units
General Journal
3,000
11,300
10,000
4,300
Clear entry
Complete for
Direct
Materials
70%
$ 1,533
761
QS 16-13 (Algo) Weighted average: Entry to transfer costs LO P4
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.
11,907
21,819
Record the transfer of costs from the Assembly department to the Painting
department (weighted average method.)
80%
Percent
Complete for
Conversion
30%
$ 2,294
Debit
33,726
30%
Credit
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feef3b56f-3145-4196-94f4-d427931b15e9%2F14b6728d-4e55-4d30-8944-48a60bd058a6%2Fg97esz_processed.png&w=3840&q=75)
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