Homework Answers
1. Input for the assembly department
Beg wip- 5000
Started in month- 20000
Total- 20000
2. Production report as per Weighted average method
| Particulars | units | dm | cc |
| Beg wip | 5000 | ||
| Started | 2000 | ||
| Total | 25000 | ||
| Completed | 22500 | 22500 | 22500 |
| End wip | 2500 | 2500 | 1750 |
Equivalent units
DM- 25000
CC- 24250
3. Journal entries
Cost per unit
Material - $5750000/25000=$ 230
CC- $2740250/24250= $113
Process accounts- assembly $1652750
Work in progress $ 1652750
Process accounts- assembly $6837500
Direct material. $4500000
Conversion cost. $ 2337500
Finished goods inventory $7717500
Process accounts- assembly $7717500
( 22500* (230+113))
Work in progress $772750
Process accounts- assembly $772750
(1750*113) + 2500*230
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fifo method production report , journal entries and t
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