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Oslo Company produces large quantities of a standardized product. The following information is available for its production activities for May Units Costs Beginning work
Oslo Company produces large quantities of a standardized product. The following information is available for its production activities for May Units Costs Beginning work in process inventory Started 6,000 22,000 Beginning work in process inventory Direct materials $ 4,880 Ending work in process inventory 7,000 Conversion 10,758 $ 15,638 Status of ending work in process inventory Direct materials added 373,120 Materials Percent complete Conversion Percent complete 100% Direct labor added 243,680 25% Overhead applied (62.70% of direct labor) 152,787 $ 785,225 Total costs to account for Ending work in process inventory Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Do not round intermediate calculations. Round "Cost per EUP" to 2 decimal places.) $ 90,247 Total costs to account for: Total costs to account for: Total costs accounted for Difference due to rounding cost/unit Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)-weighted average method Units % Materials EUP- Materials % Conversion Total units Cost per equivalent unit of production Total costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Costs EUP Total costs accounted for: Cost of units transferred out Direct materials Conversion Materials EUP Cost per EUP Total cost Total costs transferred out EUP Cost per EUP Total cost Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for Costs EUP EUP- Conversion Conversion
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