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 | 4,800 | ||
| Units started this period | 16,000 | ||
| Completed and transferred out | 16,200 | ||
| Ending work in process inventory | 4,600 | 100% | 25% |
| Beginning work in process inventory | ||
|---|---|---|
| Direct materials | $ 3,611 | |
| Conversion | 7,518 | $ 11,129 |
| Costs added this period | ||
| Direct materials | 264,640 | |
| Conversion | 326,192 | 590,832 |
| Total costs to account for | $ 601,961 |
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Sound Investing, Chapter 18 - Significant Accounting Policies And Changes In Them
Authors: Kate Mooney
3rd Edition
0071719407, 9780071719407
