Exercise 16-14 (Algo) Weighted average: Production cost report LO P2
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Use the following information for the Exercises below. (Algo)
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The following data reports on the July production activities of the Molding department at Ash Company.
|
Beginning work in process |
|
|
|
Direct materials |
$ 37,650 |
|
|
Conversion |
4,620 |
$ 42,270 |
|
Costs added this period |
|
|
|
Direct materials |
480,000 |
|
|
Conversion |
271,920 |
751,920 |
|
Total costs to account for |
|
$ 794,190 |
|
|
Units |
Direct Materials |
Conversion |
|
|
|
Percent Complete |
Percent Complete |
|
Beginning work in process inventory |
3,500 |
100% |
20% |
|
Units started this period |
40,000 |
|
|
|
Completed and transferred out |
39,500 |
|
|
|
Ending work in process inventory |
4,000 |
100% |
60% |
Exercise 16-14 (Algo) Weighted average: Production cost report LO P2
Prepare the Molding department’s production cost report using the weighted average method.
Note: Round "Cost per EUP" to 2 decimal places.
