"Assignment Instructions: Fullerton Aggregate processes raw shale into lightweight aggregate material.Fullerton has only one production department. This department heat treats shale and injects it with fly ash as it passes through rotating kilns. The shale both expands and hardens in the process, and is ideally suited to road construction. Fullerton uses the weighted-average process costing method to account for production.The necessary information is on the ""problem"" worksheet. On the ""worksheet"" tab, prepare the Production Cost Report and then complete the prepare the journal entries for the Month of September only. The production cost report is already in template format. You only need to input data in the cells with bold outlining. These are the only cells that will be graded on that report. If you change anything on the productipon cost report other than the bold cells, it is likley you are doing someting incorrectly. The journal entries are formatted for you also. The memo entry is completed.

Problems:

Beginning work in process on September 1 consisted of 101,000 tons that were 55% complete with respect to raw materials and 20% complete with respect to conversion costs.

Ending work in process on September 30 consisted of 47,000 tons that were 75% complete with respect to raw materials and 15% complete with respect to conversion costs.

1,115,000 tons of material were put into production. There is no spoilage or loss of tonnage in the production process.

Beginning work in process carried costs of: direct materials: $126,000, direct labor: $52,000, and factory overhead: $103,000. Additional costs incurred during the month were: direct materials: $1,520,000, direct labor: $990,000, and factory overhead: $572,000).

(a) Prepare a cost of production report for September.

(b) Prepare journal entries to reflect 1) the introduction of additional costs during September, and 2) the transfer of completed units to finished goods.

Worksheet:

[Insert Company Name]	Step 1:	Step 2: Equivalent Units
Month-ended [Insert Date] Flow of Production	Flow of Physical Units	Direct Materials	Conversion Costs	Total
Units to Account for:
Beginning WIP,[Insert Date]
Started in production
Physical units to account for:	-
Units accounted for:
Completed and transferred
Ending WIP, [Insert Date]
Physical units accounted for	-
Total Equivalent Units		-	-
Total Costs to account for and Cost per Equivalent Unit
Beginning WIP, [Insert Date]				-
Costs added				-
Total Costs to account for		-	-	-
Cost per equivalent unit
Total cost to account for		-	-
Divided by equivalent units		-	-
Cost per equivalent unit		#DIV/0!	#DIV/0!
Assigning Costs
Completed and transferred out
Equivalent units completed and transferred out		-	-
Multiplied by Cost per equivalent unit		#DIV/0!	#DIV/0!
Cost assigned to completed units		#DIV/0!	#DIV/0!	#DIV/0!
Ending WIP
Equivalent units in ending WIP		-	-
Multiplied by Cost per equivalent unit		#DIV/0!	#DIV/0!
Cost assigned to units in ending WIP		#DIV/0!	#DIV/0!	#DIV/0!
Total costs accounted for				#DIV/0!
Journal Entries:
Name	Debit	Credit
Move production costs in WIP Inventory
Transfer completed goods to inventory