In Its Department R. Recyclers, Inc., processes donated scrap cloth into towels for sale in local thrift shops. It sells the products at cost The direct materials costs are zero, but the operation requires the use of direct fabor and overhead. The company uses a process cosung system and tracks the processing volume and costs incurred in each period At the start of the current period, 550 towels were in process and were 60 percent complete. The costs incurred were $1,207 During the month, costs of $20,500 were incurred, 4100 towels were started, and 275 towels were still in process at the end of the month At the end of the month the towels were 20 percent complete Requlred: a. Prepare a production cost report the company uses weighted average process costing b. Show the flow of costs through T-accounts. Assume that current period conversion costs are credited to varlous payables Complete this question by entering your answers in the tabs below. Required A Required B Prepare a production cost ceport the company uses weighted average process costing. (Round "Conversion costs" to 2 decimal places) RECYCLERS INC Production Cost Report-Weighted Average Physical Units Total costs Conversion Costs Flow of Production Units Units to be accounted for Beginning WIP inventory Unised this period Total units to be accounted for Unit counted for Uits completed and transferred out Unds in ording WP nventory Tout its accounted fot Cost to be counted for Contain begann WP inventory Current end costs Total cost to be about Costuivalent Convert Contato Cened to his sed out Converno Cong w Con 00015 00 NY a. Prepare a production cost report the company uses weighted average process costing b. Show the flow of costs through T-accounts. Assume that current period conversion costs are credited to various pe Complete this question by entering your answers in the tabs below. Required A Required B Prepare a production cost report the company uses weighted average process costing. (Round "Conversion costs" to 2 decimal places.) RECYCLERS, INC. Production Cost Report-Weighted Average Physical Units Total Costs Conversion Costs Flow of Production Units Units to be accounted for Beginning WIP Inventory Units started this period Total units to be accounted for Units accounted for Units completed and transferred out Unitsin ending WIP inventory Total units accounted for 0 0 7 5 $ 0 Costs to be counted for Costs in beginning Weinventory Current period costs Total costs to be accounted for Costuvaletni Conversion costs Costcounted for Gosts assigned 10 is transferred out Conversion Cotangned to ending WP inventory Conversion con Total cost counted for 0.005 000 Required B > In its Department R, Recyclers, Inc., processes donated scrap cloth into towels for sale in local thrift shops. It sells the products at cost The direct materials costs are zero, but the operation requires the use of direct labor and overhead. The company uses a process costing system and tracks the processing volume and costs incurred in each period. At the start of the current period, 550 towels were in process and were 60 percent complete. The costs incurred were $1.207 During the month, costs of $20,500 were incurred, 4300 towels were started, and 275 towels were still in process at the end of the month. At the end of the month, the towels were 20 percent complete Required: 2. Prepare a production cost report the company uses weighted average process costing b. Show the flow of costs through T-accounts. Assume that current period conversion costs are credited to various payables. Complete this question by entering your answers in the tabs below. Required Required B Show the flow of costs through Taccounts. Assume that current period conversion costs are credited to various payables. (Do not round Intermediate calculation faund your wers to 2 decimal places) Work in Process Bering very Varos Payables Beg This periods Endbal Sony Finished Goods Inventory
