Question
Kylie Electronics uses a process costing system to make their product and has only a single processing department. The following information pertains to operations for
Kylie Electronics uses a process costing system to make their product and has only a single processing department. The following information pertains to operations for the month of September 2021:
| Units |
Beginning work-in-process inventory | 20,000 |
Started into production during May | 100,000 |
Completed during May | ? |
Ending work-in-process inventory | 24,000 |
The beginning work-in-process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs. The ending work-in-process inventory was 80% complete with respect to materials and 30% complete with respect to conversion costs. The costs were as follows:
| Materials | Conversion |
Beginning work-in-process inventory | $ 54,560 | $ 35,560 |
Costs incurred during May | $463,840 | $274,040 |
Prepare a Weighted Average Production report in good form on the following page in the report space provided.
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