Question
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of Burnt Ham Company reported the following information for the
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of Burnt Ham Company reported the following information for the month of November:
Beginning work in process:
- 30% complete for materials, and 80% complete for conversion.
Ending work in process:
- 40% complete for materials, and 70% complete for conversion
Cost Summary Material Conversion
Work in process, November 1 $ 34,500 $ 48,600
Added during November $146,000 $194,400
Units
Work in process, November 1 10,000
Started in November 28,000
Total 38,000
Work in process November 30 8,000
Completed and transferred out
(calculate this figure)
Required
Show a production Report for the company's November production using the weighted-average method. You will need to include the following:
- Units to account for
- The equivalent units of production for materials and conversion
- The cost per equivalent unit for materials and conversion (Roundto three decimals. There will be a small final rounding error.)
- The total cost assigned to units transferred out of the Curing Dept. during November (Costs must be in dollars and cents.
- The total cost of the work in process inventory on November 30 (Costs must be in dollars and cents.)
- A cost reconciliation
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