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Carmen Ruffin Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for
Carmen Ruffin Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process _____________ 300 Percent complete with respect to materials _________ 80% Percent complete with respect to conversion ______ 70% Costs in the beginning in inventory: Materials cost _____________ $1, 368 Conversion cost ____________ $8, 064 Units started into production during the month _______ 11, 000 Units completed and transferred out ___________ 11, 000 Costs added to production during the month: Materials cost ____________ $64, 948 Conversion cost ____________ $412, 179 Work in process, ending: Units in process ___________ 300 Percent complete with respect to materials _________ 80% Percent complete with respect to conversion __________ 10% Required: Using the Weighted Average method, prepare a Production Report to clearly show: Units to be accounted for and how are accounted for Determine the equivalent units of production. Determine the costs per equivalent unit. Determine the cost of ending work in process inventory. Determine the cost of the units transferred to the next department
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