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Production cost report using weighted average method

1. Prepare the departments process cost summary for January using the weighted average method of process costing.
2. Prepare an entry to transfer the cost of the completed units to finished goods inventory.

(See attached file for details)

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1. Prepare the departments process cost summary for January using the weighted average method of process costing.

This is in the attached file. The steps should be like this
1. Calculate the units to account for. These are units transferred + units in WIP = 220,000+40,000=260,000. ...

Solution Summary

The solution explains how to make a production cost report under the weighted average method. It also gives the journal entry to transfer finished goods.

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