4-1B Production Report

Ritchie Company has two departments. Its first department (the Melting Department) shows the following data for the month of April:

Work in process, beginning:
Units in process	400
Stage of completion with respect to materials	60%
Stage of completion with respect to conversion	85%
Costs in the beginning inventory:
Materials cost	$170
Labour cost	$160
Overhead cost	$300
Units started into production during the month	1,100
Units completed and transferred out	1,400
Costs added to production during the month:
Materials cost	$1,300
Labour cost	$800
Overhead cost	$1,700
Work in process, ending:
Units in process	???
Stage of completion with respect to materials	70%
Stage of completion with respect to conversion	80%

Required:

Using the weighted average method, prepare a production cost report for the company.

Choose from below options to answer above:

Using your calculations from Steps 1 to 4 , complete the following questions about the T Account that results from this set of calculations: What is the opening balance (OB) ? What is the proper account name? How much was completed and transferred out (C+TO) for the period? What is the Closing (Ending) balance (CB)? Choose... Choose... 1,400 EU $2,500 debit 100 units MOH Clearing Account $4,800 credit $230 debit $230 credit Raw Materials Inventory $630 credit $4,200 debit Work in Process (WIP) Inventory $630 debit $4,200 credit 70 EU $3.00 / EU