Calculate the cost of finished products and products in process using the Approximate Yield Method and prepare the accounting entries for product warehousing. Calculate the cost of finished product and product in process using the fixed proportion method. 1. Product A

Finished products of raw materials = 64640/(120+40)*120=48,480

Work in progress of raw materials = 64640-48480=16,160

Finished products of wages and benefits = 26460/(120+40*0.375)*120=23,520

Finished products of wages and benefits = 26460/(120+40*0.375)*120=23,520

Work-in-process for wages and benefits 26460-23520=2940

Work-in-process for manufacturing costs = 21060/(120+40*0.375)*120=18720

Work-in-process for manufacturing costs = 21060-18720=2340

Work-in-process for A product = 48480+ 23520+18720=90720

Product A in-process=16160+2940+2340=21440

Borrow: Inventory 90720

Credit: Cost of production 90720

Product B is the same algorithm