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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 MaterialsConversion Percent Percent Units Complete Complete Beginning work in process inventory 5,800 Units started this period 21,000 Completed and transferred out 20,200 Ending work in process inventory 6,600 100% 20% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 4,684 10,218 $ 14,902 354,440 440,192 794,632 $ 809,534 Unit reconciliation: Units to account for: OSLO COMPANY-First Department Production Cost Report - Weighted Average Method For Month Ended May 31 Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP)-weighted average method Equivalent Units of Production Cost per equivalent unit of production Total costs Direct Materials Conversion Units % Complete EUP % Complete EUP Costs EUP + 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 EUP Cost per EUP Total cost EUP Cost per EUP Total cost Costs EUP Conversion
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