Question
Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production
Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Direct Materials Conversion Percent Percent Complete Complete Units Beginning work in process inventory Units started this period 4,800 16,000 Completed and transferred out 16,200 4,600 100% 25% Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Unit reconciliation: Units to account for: Total units to account for Units accounted for: $ 3,611 7,518 $ 11,129 264,640 326,192 590,832 $ 601,961 OSLO COMPANY-First Department Production Cost Report - Weighted Average Method For Month Ended May 31 Total units accounted for Equivalent units of production (EUP) - weighted average method Equivalent Units of Production Cost per equivalent unit of production Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Cost Assignment Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for Direct Materials Conversion Units % Complete EUP % Complete EUP Costs EUP Direct Materials EUP Cost per EUP Total cost EUP Cost per EUP Total cost Costs EUP Conversion
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