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Green Company uses weighted average process costing to determine the cost of units.They produce their finished product in two processing departments:Refining and Packaging.The following information is available for the month of July:

Refining Department:

The beginning work in process inventory was $160,830 ($82,430 direct material cost and $78,400 conversion costs) and consisted of 1,800 units.

During July, an additional 24,700 units were started into production.During July, a total of 22,900 units were completed and transferred to the Packaging Department.

The ending work in process inventory consisted of 3,600 units which were 70% complete a to conversion costs as of the end of July.

The following costs were incurred during July:direct materials $280,620, direct labor $140,000; and factory overhead $193,404.

Direct materials are added at the beginning of the process in the Refining Department and conversion costs are incurred evenly throughout the production process.

Packaging Department:

The beginning work in process inventory was $140,770($58,020transferred-in costs and $82,750 conversion costs) and consisted of 2,800 units.

During July, a total of 23,200 units were completed and transferred out to Finished Goods Inventory.

The ending work in process inventory consisted of 2,500 units which were 40% complete as to conversion costs as of the end of July.

The following costs were incurred during July:direct materials $294,640, direct labor $160,000, and factory overhead $200,110.

Direct materials are added at the end of the process in the Packaging Department and conversion costs are incurred evenly throughout the production process.

Workpapers:

11 Exam 2B Workpapers-Wtd Avg.pdfdownload

11 Exam 2B Workpapers-Wtd Avg.xlsxdownload

REQUIRED:

1. Prepare a production report for the Refining Department for the month of July in the attached workpapers.
2. Prepare the general journal entry to record the transfer of units from the Refining Department to the Packaging Department for July in the attached workpapers.
3. Prepare a production report for the Packaging Department for the month of July in the attached workpapers.
4. Prepare the general journal entry to record the transfer of units from the Packaging Department to Finished Goods Inventory for July in the attached workpapers.
5. Enter the appropriate cost data in the Work in Process T-accounts for the Refining Department and for the Packaging Department for the month of July in the attached workpapers.

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