1. Athene Enterprises manufactures dozens of products in several different manufacturing facilities. One of their factories is devoted to their best-selling product, the Burrow. This facility uses a process cost system. Here is the data for the month of June:

Beginning inventory in process of 78,000 units

Units placed into production 1,800,000 units

Units transferred out 1,750,000

Ending inventory in process 128,000 units

Ending inventory 60% complete with respect to materials, 30% for conversion costs

Beginning inventory costs $286,000 for materials, $355,000 for conversion

Costs added in June $6,580,000 for materials, $16,502,000 for conversion

Required:

1. Use the template to complete the June production report for this product.

1. In your own words, explain how the company is likely to use the cost per equivalent unit information AND what information from this report will be included in the companys financial statements for this period.

Units			Equivalent Units
Beginning Inventory
Started
Total to account for	-
			Materials	Conversion
Transferred out			-	-
Eq units in ending inv.			-	-
Total accounted for	-		-	-
	Costs
	Total		Materials	Conversion
Costs to account for
Beginning Inventory	-
Added	-
Total to account for	-		-	-
Costs per equivalent unit	-
Costs accounted for
Transferred out	-		-	-
Ending Inventory	-		-	-
Costs accounted for	-		-	-