(Weighted average) Wyeth Products manufactures electronic language transla tors. Analysis of beginning Work in Process Inventory for...
Question:
(Weighted average) Wyeth Products manufactures electronic language transla¬ tors. Analysis of beginning Work in Process Inventory for February 2006 re-
vealed the following for 800 units:
During February, Wyeth Products started production of another 11,400 trans¬ lators and incurred $259,012 for material, $58,316 for direct labor, and $188,210 for overhead. On February 28, the company had 400 units in process (70 percent complete as to material, 90 percent complete as to di¬ rect labor, and 80 percent complete as to overhead).
a. Prepare a cost of production report for February using the weighted av¬ erage method.
b. Journalize the February transactions.
c. Prepare T-accounts to represent the flow of costs for Wyeth Products for Febaiary. Use XXX where amounts are unknown and identify what each unknown amount represents.
Step by Step Answer:
Cost Accounting Foundations And Evolutions
ISBN: 9780324235012
6th Edition
Authors: Michael R. Kinney, Jenice Prather-Kinsey, Cecily A. Raiborn