Ortega Restorative Oils Corp.
Formulation Department Basic Production Data
For the Month Ending March 31, 2023
Liters in Work In-Process at March 1	350,000
% Complete as to Materials	80%
% Complete as to Conversion Costs	20%
Cost of Work In-Process at March 1:
Materials	$ 2,240,000
Conversion Costs	$ 322,000
Liters Entered into Production during March	1,400,000
Costs Externed into Production during March:
Materials	$ 10,481,100
Conversion Costs	$ 7,808,500
Liters in Work In-Process at March 31	280,000
% Complete as to Materials	65%
% Complete as to Conversion Costs	40%

Requirement #1: Schedule of Physical Flow of Units

Prepare a schedule of the physical flow of units for the Formulation Department for March 2023. The schedule must have a proper heading.

Requirement #2: Departmental Cost Report - Weighted-Average Method

Prepare a departmental cost report using the weighted-average method for the Formulation Department for March 2023. The cost report must include three parts:

1. Calculation of the weighted-average equivalent units of production for the direct materials and the conversion costs
2. Calculation of the weighted-average costs per equivalent units of production for the direct materials and the conversion costs. The weighted-average costs per equivalent units will need to be rounded. If your physical units exceed 1,000,000 liters round the costs per EUP to four decimals; otherwise round the costs per EUP to three decimals.
3. Allocation of the direct materials costs and the conversion costs to the department output. You must round the total costs allocated to whole dollars. Remember the total costs allocated to the output that must be exactly equal to the costs entered into production. If the amounts do not equal, add or subtract the small amount needed to make the totals balance to the cost of the units completed and transferred out