Problem 16-3B Weighted average: Production cost report P2 P4Switch Co. manufactures a single product in two departments: Cutting and Assembly. Information for the Cutting process for Januaryfollows.Beginning work in process inventoryUnits started this periodUnits completed and transferred outEnding work in process inventoryCheck (2) Cost transferred out, $741,400Units10,000250,000220,00040,000Beginning work in process inventoryDirect materialsConversionCosts added this periodDirect materialsConversionTotal costs to account forDirect MaterialsPercent Complete75%50%Percent Complete$ 7,50049,840 $ 57,340Conversion112,500616,000 728,500$785,84060%30%Required1. Prepare the Cutting department's production cost report for January using the weighted average method.2. Prepare the January 31 journal entry to transfer the cost of units from Cutting to Assembly.

Name: Problem 16-3B Weighted average: Production cost report P2 P4Switch Co
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Description: Problem 16-3B Weighted average: Production cost report P2 P4Switch Co. manufactures a single product in two departments: Cutting and Assembly. Information for the Cutting process for Januaryfollows.Beginning work in process inventoryUnits started th

Definition of process costing: Process costing is a term used in cost accounting to describe one…

Answered: Switch Co. manufactures a single…

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Switch Co. manufactures a single product in two departments: Cutting and Assembly. Information for the Cutting process for January follows.

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter18: Process Cost Systems

Section: Chapter Questions

Problem 18.5BPR

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