Required information [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,800 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Percent Complete for Percent Complete for Direct Conversion Assembly Department Units Materials Beginning work in process inventory Units started this period 2,400 75% 25% 10,800 Units completed and transferred out 9,400 Ending work in process inventory 3,800 95% 35% Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion $ 2,479 487 $ 2,966 23,541 26,338 49,879 Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting department. Use the FIFO method. View transaction list Journal entry worksheet
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.
![Required information
[The following information applies to the questions displayed below.]
Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,800
units during November. The following production activity in both units and costs refers to the Assembly department's
November activities.
Assembly Department
Units
Beginning work in process inventory
Units started this period
2,400
Direct
Materials
75%
Percent
Complete for
Percent
Complete for
Conversion
25%
10,800
Units completed and transferred out
9,400
Ending work in process inventory
3,800
95%
35%
Cost of beginning work in process
Direct materials
Conversion
Costs added this month
Direct materials
Conversion
$ 2,479
487
$ 2,966
23,541
26,338
49,879
Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the Painting department. Use
the FIFO method.
View transaction list
Journal entry worksheet
<
1
Record the transfer of units from the Assembly department to the Painting
department (FIFO method.)
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdc827025-2fff-44e0-a89f-54ef3ef1d308%2F1c32ac6a-cf3d-4fbe-9029-01482a483947%2F3nrt32w_processed.png&w=3840&q=75)
Step by step
Solved in 5 steps
