1.

Callisto Company manufactures chemical additives for industrial

applications. As the new cost accountant for Callisto, you have been assigned

the task of completing the production cost report for the most recent period.

Callisto uses the weighted average cost method of process costing. The

following information pertains to the most recent period:

Beginning WIP inventory 16,000 units (75% complete to materials; 70% complete to conversion costs)

Units started into production this period

27,000 units

Units completed and

transferred out 33,000

units

Ending WIP inventory 10,000 units (60% complete to materials; 50% complete to conversion costs)

Costs in beginning inventory 132,000 materials; $164,000 conversion costs

Current-period costs 252,000 materials; $440,000 conversion costs

Required:

complete production report for the period using the weighted

average cost method