Weighted-Average Process Costing The following information relates to one department operating under a process-cost system: Work in process, December 1, 19_1, 1,000 units, 40 percent complete, consisting of $8,703 of materials and $5,036 of conversion costs. Production completed for December, 8,200 units; work in process, December 31, 19_1, 800 units, 20 percent complete.

All materials are introduced at the start of the process, while conversion costs are incurred uniformly throughoui the process. Materials added during December were $72,000; conversion costs were $83,580.

required | Using weighted averages, show a schedule of equivalent performance, unit costs, and summary of costs. Also prepare a summary entry for the transfer of completed goods to finished stock. l-01