Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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.) Direct Materials Conversion Percent Percent Complete Complete Units 4,100 12,500 13,400 3,200 1000 308 Beginning work in process inventory Units started this period Completed and transferred out 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 $ 2,978 5,628 $ 8,606 205,350 246,392 451, 742 $ 460,348 OSLO COMPANY First Department Production Cost Report - Weighted Average Method For Month Ended May 31 Unit reconciliation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP)-weighted average method Direct Materials % Complete EUP Conversion % Complete EUP Units Total units Cost per equivalent unit of production Direct Materials Conversion Costs EUP Costs EUP 0 Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Cost Assignment Completed and transferred out Direct materials EUP Cost per EUP Total cost EUP Cost per EUP Total cost Cost Assignment Completed and transferred out Direct materials Conversion Total costs of completed and transferred out Ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Total cost Cost per EUP $ 0.00 $ 0.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started