1. prepare a physical flow schedule. 2. prepare a schedule of equivalent units. 3. compute the cost per equivalent units. 4. compute the cost of goods transferred out and the cost of EWIP 5. Prepare a cost reconciliation

Brief Exercise 6-36 Production Report, Weighted Average OBJECTIVE .6 Washburn Inc. manufactures precision tools in two departments: molding and finishing. Example 6 Washburn uses the weighted average method. Manufacturing costs are added uniformly depart throughout the process. The following are cost and production data for the molding depart ment for June: Production Units in process, June l, 50% complete Units completed and transferred out Units in process, June 30, 60% complete 15,000 102,000 30,000 Costs: WIP,June 1 Costs added during June S 180,000 3,420,000 Required: Prepare a production report for the molding department. out