Problems - Cost of Production Reports

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Hilton Products manufactures one product in two departments on a continuous basis and uses the average method of process cost accounting.
The following information was reported for the month of May.

Hilton Products manufactures one product in two departments on a continuous basis and uses the average method of process cost accounting.
The following information was reported for the month of May.

					Production Costs
				Machining		Assembly
Work in process, beginning of month:				$ -		$ 27,000
Cost in Machining
	Materials		$ 4,000		$ 800
	Labor		3,000		400
	Factory overhead		2,000	$ 9,000	600	$ 1,800
Cost incurred during month:
	Materials		$ 68,000		$ 44,000
	Labor		51,000		22,000
	Factory overhead		34,000	153,000	33,000	99,000
		Total		$ 162,000		$ 127,800

					Production Costs
				Machining		Assembly
				(Units)		(Units)
In process, beginning of month				1,000		1,000
Finished and transferred during month				5,000		4,000
In process, end of month				2,000		2,000
Stage of completion as to materials, labor, overhead				One-half		One-half

Requirements:
Prepare a cost of production summary for each department for the month.

			Berg Products
			Cost of Production Summary—Machining
			For the Month Ended May 31, 2011

Cost of work in process, beginning of month:
	Materials
	Labor
	Factory overhead
Cost of production for month:
	Materials
	Labor
	Factory overhead
Total costs to be accounted for

Unit output for month:
	Finished and transferred to Assembly during month
	Equivalent units of WIP, end of month
		Total equivalent production
Unit cost for month:
	Materials
	Labor
	Factory overhead
		Total
Inventory costs:
	Cost of goods finished & transferred to Assembly during month
Cost of work in process, end of month:
	Materials
	Labor
	Factory overhead
Total production costs accounted for


			Berg Products
			Cost of Production Summary—Assembly
			For the Month Ended May 31, 2008

Cost of work in process, beginning of month:
	Cost in Machining
	Cost in Assembly:
		Materials
		Labor
		Factory overhead

Cost of goods received from Machining during month

Cost of production for month:
	Materials
	Labor
	Factory overhead
Total cost to be accounted for

Unit output for month:
	Finished and transferred to stockroom during month
	Equivalent units of work in process, end of month
		Total equivalent production
Unit cost for month:
Cost from prior department:
	Beginning inventory
	Transferred in this month
	Average cost per unit
Cost in Assembly:
	Materials
	Labor
	Factory overhead
		Total
Inventory costs:
Cost of goods finished and transferred to stockroom during month:
	Cost in Machining
	Cost in Assembly
Cost of work in process, end of month:
	Cost in Machining
	Cost in Assembly:
		Materials
		Labor
		Factory overhead
Total production costs accounted for