Refer to the information in Problem 20-3B. Assume that Switch uses the FIFO method of process costing. The units started and completed for January total 210,000.
Required
1. Prepare the Cutting department’s production cost report for January using FIFO. Round cost per EUP to three decimals.
2. Prepare the January 31 journal entry to transfer the cost of units from Cutting to Assembly.
Data From Exercise 20-3B
Switch Co. manufactures a single product in two departments: Cutting and Assembly. Information for the Cutting process for January follows.
Required
1. 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.
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