56) Surf Products Company uses an automated process to clean and polish its souvenir items. For March, the company had the following activities: Beginning work in process inventory 3,000 items, 1/3 complete Units placed in production 12,000 units Units completed 9,000 units Ending work in process inventory 6,000 items, 1/2 complete Cost of beginning work in process: Direct Materials: $2,025 Conversion Costs: $475 Direct material costs, current $9,000 Conversion costs, current $7,700 Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. Required: Prepare a production cost worksheet using the WEIGHTED AVERAGE method.

56) Surf Products Company uses an automated process to clean and polish its souvenir items. For March, the company had the following activities: Beginning work in process inventory 3,000 items, 1/3 complete Units placed in production 12,000 units Units completed 9,000 units Ending work in process inventory 6,000 items, 1/2 complete Cost of beginning work in process Direct material costs, current Conversion costs, current Direct Materials: $2,025 Conversion Costs: $475 $9,000 $7,700 Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. Required: Prepare a production cost worksheet using the WEIGHTED AVERAGE method. Production Report - Department __________________ FLOW OF PRODUCTION PHYSICAL UNITS WIP, Beg Inv Units started during period Units to be accounted for __________ __________ __________ Units completed & Transferred Out __________ ______ WIP, End Inv __________ ______ Units accounted for __________ Total Equivalent Units ______ COSTS WIP, Beg Inv Costs added during the period Total costs to account for Divided by equivalent units Equivalent unit costs Assignment of costs: Completed & transferred out TOTALS $_________ __________ __________ __________ __________ WIP, End Inv DM __________ CC Total WIP, End Inv Total costs accounted for __________ __________ __________ EQUIVALENT UNITS DM CC ______ ______ ______ DETAILS DM CC $_______ $______ ________ _______ ________ _______ ________ _______ ________ _______