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 cost
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.)
| Units | Direct Materials | Conversion | |
|---|---|---|---|
| Percent Complete | Percent Complete | ||
| Beginning work in process inventory | 5,700 | ||
| Units started this period | 20,500 | ||
| Completed and transferred out | 19,800 | ||
| Ending work in process inventory | 6,400 | 100% | 30% |
| Beginning work in process inventory | ||
|---|---|---|
| Direct materials | $ 4,584 | |
| Conversion | 9,948 | $ 14,532 |
| Costs added this period | ||
| Direct materials | 345,190 | |
| Conversion | 428,792 | 773,982 |
| Total costs to account for | $ 788,514 |
Step by Step Solution
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Fundamental Accounting Principles
Authors: John Wild, Ken Shaw, Barbara Chiappetta
22nd edition
9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275
