Question
Manama Steel processes a single type of steel. For the current period the following information is given: Units Material Costs Conversion Costs Beginning Inventory 400
Manama Steel processes a single type of steel. For the current period the following information is given:
| Units | Material Costs | Conversion Costs |
Beginning Inventory | 400 | $2,000 | $4,300 |
Started During the Current Period | 500 | $5,000 | $8,000 |
Ending Inventory | 200 |
|
|
All materials are added at the end of the production process. The beginning inventory was 40% complete for conversion, while the ending inventory was 60% completed for conversion purposes. Manama uses the weighted-average costing method.
Instructions:
Prepare a production cost worksheet using the weighted-average method.
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