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Callisto Company manufactures chemical additives for industrial applications. As the new cost accountant for Callisto, you have been assigned the task of completing the production
Callisto Company manufactures chemical additives for industrial applications. As the new cost accountant for Callisto, you have been assigned the task of completing the production cost report for the most recent period. Callisto uses the weighted average cost method of process costing. The following information pertains to the most recent period: Beginning NIP inventory 16,666 units (75% complete as to materials; 76% complete as to conversion costs) Units started into production this period 27,666 units Units completed and transferred out 33,666 units Ending NIP inventory 16,666 units (66% complete as to materials; 56% complete as to conversion costs) Costs in beginning inventory $ 132,666 materials; $164J696 conversion costs Currentiperiod costs $ 252,666 materials; $446J666 conversion costs I Required: Prepare a complete production report for the period using the weighted average cost method. (Round "Cost per equivalent unit" to 3 decimal places and the rest to the nearest whole number.) 0 Answer is complete but not entirely correct. Units to be accounted for. Work In process beginning 23,200 a Started into production 2?,000 a Total units 50,200 0 Answer is complete and correct. Units accounted for as follows: Units transferred outduring the month 33,000 a 33,000 0 33,000 a Work in process, ending 10,000 a 6,000 0 5,000 Q Total units and equivalent units of production 43,000 39.000 38,000 0 Answer is complete and correct. Cost per equivalent unit as 9.040 0 $ 15.895 0 $ 25.741 0 Note: There is difference of"$4 in both the values due to rounding and we feel a note which reads: "Due to rounding, your "Cost u n accounted for" may not be equal to "Cost to account for . 9 Answer is complete but not entirely correct. Cost accounted for as follows: Transferred to next department: $1,292,198 a 50,200 a 50,200 6 Work In process, ending Materials 59,076 0 6,000 9 Convemlon 79,475 0 5,000 0 Total 138,551 $ Total cost 11430,?\" 56,200 55,200
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