Required information [The following information applies to the questions displayed below] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,200 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. 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 < iew transaction list Journal entry worksheet Units 2,500 11,200 9,500 4,200 Note: Enter debits before credits. Date General Journal November 30 Work in process inventory-Painting Work in process inventory-Assembly Percent Complete for Percent Direct Materials 60% $1,682 1,024 17,608 20,496 80% pare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting department. Use weighted average method: I Complete for Conversion 40% $ 2,706 Debit 38,104 Record the transfer of costs from the Assembly department to the Painting department (weighted average method.) 30% Credit

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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.