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I need help with the following 4 MGMT 312, managerial accounting questions. III. Interpretation of journal entries in process cost accounting The following journal entries are recorded in Kiera Co.’s process cost accounting system. Kiera produces handbags and scarves. Overhead is applied to production based on direct labor cost for the period. Prepare a brief explanation (including any overhead rates applied) for each journal entry (a) through (j). IV. Completing a process cost summary The following partially completed process cost summary describes the May production activities of Raman Company. Its production output is sent to its warehouse for shipping. Prepare its process cost summary using the weighted-average method. V. Process costing – weighted average Ebony Company uses the weighted-average method of process costing to assign production costs to the products. Information for April follows. Assume that all materials are added at the beginning of the production process, and that direct labor and factory overhead are added uniformly throughout the process. VI. Process costing summary Using the format illustrated on the next page, complete a process cost summary using the following sections: 1. Costs charged to production 2. Unit cost information 3. Equivalent units of production 4. Cost per Equivalent unit of production 5. Cost assignment and reconciliation

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MGMT 312, Module 2 Review Questions III. Interpretation of journal entries in process cost accounting The following journal entries are recorded in Kiera Co.’s process cost accounting system. Kiera produces handbags and scarves. Overhead is applied to production based on direct labor cost for the period. Prepare a brief explanation (including any overhead rates applied) for each journal entry (a) through (j). IV. Completing a process cost summary The following partially completed process cost summary describes the May production activities of Raman Company. Its production output is sent to its warehouse for shipping. Prepare its process cost summary using the weighted-average method. V. Process costing – weighted average Page 1 of 3
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