A company using process costing has the following facts regarding one of its department for its most recent month of operations:

Normal spoilage is assumed to be at most 12% of units completed and units are inspected when 100% of conversion costs are added ( at the very end)

Requirements:

Using the Weighted average cost flow assumption, prepare of Production Cost Report for this department with a particular attention to the units of spoilage.

Using the FIFO cost flow assumption, prepare of Production Cost Report for this department with a particular attention to the units of spoilage.

? Chegg,Study TEXTBOOK SOLUTIONS EXPERT Q&A Search Calculation of Costs of Goods Manufactured (COGM), Ending inventory (El), and Cost per Unit Using Weighted Average Fact situation Beginning Inventory Ending Inventory This information must always be given to you (in some form) 50% Complete for Direct Materials; 40% Complete for Labor and Mg OH 20% Complete for Direct Materials; 10% Complete for Labor and Mig OH WIP (in Units) WIP (in dollars) $10 58 $6 $86 $116 $180 Beginninginventory Units Started 10 70 20 DM Bl:DL Total so Units Completed of $24 MOH Ending Inventory > Added DL MOH Current costs added this period ($382- Total to account fora cost in BI +current com- S406 $406 Therefore Total Cost of Goods Manufactured + Ending WIP MUST= To cost these using the Weighted Average technique, you must calculate the Weighted Average Equivalent Units Direct materials Direct Labor MfL or D Chegg Study Gu...ht