Question
Exercise 20-16 (Static) Weighted average: Production cost report LO P2 Elliott Company produces large quantities of a standardized product. The following information is available for
Exercise 20-16 (Static) Weighted average: Production cost report LO P2
Elliott Company produces large quantities of a standardized product. The following information is available for its first production department for March. Prepare a production cost report for this department using the weighted average method. (Round "Cost per EUP" to 2 decimal places.)
| Units | Direct Materials | Conversion | |
|---|---|---|---|
| Percent Complete | Percent Complete | ||
| Beginning work in process inventory | 2,000 | ||
| Units started this period | 20,000 | ||
| Completed and transferred out | 17,000 | ||
| Ending work in process inventory | 5,000 | 100% | 35% |
| Beginning work in process inventory | ||
|---|---|---|
| Direct materials | $ 2,500 | |
| Conversion | 6,360 | $ 8,860 |
| Costs added this period | ||
| Direct materials | 168,000 | |
| Conversion | 479,640 | 647,640 |
| Total costs to account for | $ 656,500 |
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
