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9 Trout, Inc. prepared the following production report: Required: Fill in the missing amounts. (Round your Cost per Equivalent Unit answers to 2 decimal
9 Trout, Inc. prepared the following production report: Required: Fill in the missing amounts. (Round your "Cost per Equivalent Unit" answers to 2 decimal places.) TROUT, INC. UNITS Units to be Accounted for: Beginning Work in Process Process Costing Production Report (Weighted Average Method) Step 1: Physical Units 3,000 Started into Production Total Units 7,000 Step 2 Equivalent Units Units Accounted for as Follows: Materials Conversion Completed and Transferred 2,000 Ending Work in Process Total Units COSTS Step 3: Cost per Equivalent Unit Materials Conversion Total Cost Cost of Beginning Inventory Current Period Costs 18,000 $ 122,000 14,000 $ 206,000 32,000 328,000 Total Cost of Units in Process $ 140,000 $ 220,000 $ 360,000 Equivalent Units 12,500 Cost per Equivalent Unit Step 4: Reconcile Work in Process Cost to be Accounted for: Materials Conversion Total Cost Beginning Work in Process $ 18,000 $ 14,000 Current Period Costs 122,000 206,000 Total Costs Cost Accounted for as Follows: Units Completed and Transferred Ending Inventory
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