Question
Loanstar had 100 units in beginning inventory before starting 1,000 units and completing 900 units. The beginning work in process inventory consisted of $3,000 in
Loanstar had 100 units in beginning inventory before starting 1,000 units and completing 900 units. The beginning work in process inventory consisted of $3,000 in materials and $5,000 in conversion costs before $8,000 of materials and $12,640 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs.
Use the above information to complete a production cost report. Enter all amount as positive values.
Production Cost ReportWork in process completion percent100%40%Material UnitsConversion UnitsTotal Units
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