Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September the work-in-process is 40 percent complete and at the end of the month it is 60 percent complete. Other data for the month include:

Required:
a. Using the weighted-average method determine the assignment of costs to units transferred-out and ending inventory.
b. Prepare journal entries to record transferring of material and conversion costs to work-in-process; and, the cost of the units completed and transferred from processing to finished goods.

Question

Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September the work-in-process is 40 percent complete and at the end of the month it is 60 percent complete. Other data for the month include:
 
Required:
a. Using the weighted-average method determine the assignment of costs to units transferred-out and ending inventory.
b. Prepare journal entries to record transferring of material and conversion costs to work-in-process; and, the cost of the units completed and transferred from processing to finished goods.

Quizplus · Accepted Answer

The Answer of Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September the work-in-process is 40 percent complete and at the end of the month it is 60 percent complete. Other data for the month include:
 
Required:
a. Using the weighted-average method determine the assignment of costs to units transferred-out and ending inventory.
b. Prepare journal entries to record transferring of material and conversion costs to work-in-process; and, the cost of the units completed and transferred from processing to finished goods.

Four Seasons Company Makes Snow Blowers