Jeddah Chillers Company makes air conditioning units. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, work in process is 40% complete and at the end of the month it is 60% complete. Other data for the month include:
Required:
a. Prepare a production cost worksheet with supporting schedules using the weighted-average method of process costing.
b. Prepare journal entries to record transferring of materials to processing and from processing to finished goods.

Question

Jeddah Chillers Company makes air conditioning units. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, work in process is 40% complete and at the end of the month it is 60% complete. Other data for the month include:
  Required:
a. Prepare a production cost worksheet with supporting schedules using the weighted-average method of process costing.
b. Prepare journal entries to record transferring of materials to processing and from processing to finished goods.

Quizplus · Accepted Answer

The Answer of Jeddah Chillers Company makes air conditioning units. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, work in process is 40% complete and at the end of the month it is 60% complete. Other data for the month include:
  Required:
a. Prepare a production cost worksheet with supporting schedules using the weighted-average method of process costing.
b. Prepare journal entries to record transferring of materials to processing and from processing to finished goods.

Jeddah Chillers Company Makes Air Conditioning Units