Campo Company: Process Costing

Campo Company uses a process costing system. On March 1, it had no work-in-process inventory. During the month it started 1,020,000 liters of product and shipped 960,000 liters to its upstream distribution partner. The cost of the resources used by Campo in March amounted to $408,330 direct materials and $1,521,370 conversion costs.

The production supervisor estimates that the ending work in process is 40% complete on March 31.

Determine (a) cost of product shipped and (b) the cost of March 31 ending work-in-process. You should assume that materials and conversion costs are added uniformly throughout process and that there is no need to account for waste/scrap/spoilage.

Complete the assignment for Campo Company as instructed and upload your solution here. You will find it useful to use the Process Cost Report Worksheet (attached here) to help organize all the data and complete the calculations.

AaBbCcDo AaBbCcDC AaBbC AaBbccC AaB AaBbCCC AaBbCCD( AaBbCCD( AaBbCCD( AaBbCcD I Normal I No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em. Emphasis Intense E.. Strong Paragraph styles Process Cost Report Weighted Average Method Equivalent Units Physical EUP EUP Flow of units Units Materials Conversion Units to be accounted for: I Beginning work-in-process Units started Total units accounted for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for Costs Total Materials Conversion Flow of costs Costs Costs Costs Costs to be accounted for: Costs in beginning work-in- process Current period costs Total costs to be accounted for Costs per EU Costs accounted for: Costs assigned to units transferred out Costs assigned to ending work-in-process Total costs accounted for DOLL