Question
Anchor Inc. uses the weighted- average method in its process costing system. The following data concern the operations of the companys first processing department for
Anchor Inc. uses the weighted- average method in its process costing system. The following data concern the operations of the companys first processing department for a recent month.
Work in process, beginning: Units in process......................................................... 800 Percentage completion (materials)..................................... 60% Percentage completion (conversion).................................. 10% Costs of beginning inventory: Materials cost......................................................... $1,296 Conversion cost...................................................... $2,416
Units started into production.......................................... 16,000 Units completed and transferred out................................. 16,200
Costs added to production: Materials cost............................................................$47,076 Conversion cost...................................................... $497,213
Work-in-process, ending: Units in process............................................................ 600 Percentage completion (materials).................................... 50% Percentage completion (conversion)................................. 70%
Required: Prepare a production report for the department using the weighted-average method.
PLEASE SOLVE FAST AND USE THE SIMPLEST METHODS POSSIBLE BECAUSE I DONT TAKE ADVANNCED TECCHNIQUES IM ONLY 2ND YEAR ACCOUNTING COLLEGE, MY TEACHER WILL NOTICE IMMEDITAELY IF I USE ADVANCED TECHNIQUES,AND PLEASE SHOW STEPS THANK YOU SORRY ITS SUPPOSED TO BE GIVE A PRODUCTION REPORT USING PROCESS COSTING, PLEASE SOLVE FAST
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