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Oslo Company produces large quantities of a standardized product. The following information is available for its production activities for May. Prepare a process cost summary
Oslo Company produces large quantities of a standardized product. The following information is available for its production activities for May.
Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Do not round intermediate calculations. Round "Cost per EUP" to 2 decimal places.)
Units Costs Beginning work in process inventory Started 5,300 Beginning work in process inventory $4,180 8,868 18,500 Direct materials Ending work in process inventory 5,600 Conversion 13,048 308,790 201,680 138,346 $661,864 $76,069 Status of ending work in process inventory Direct materials added Materials-Percent complete Conversion-Percent complete 100% Direct labor added 30% Overhead applied (69% of direct labor) Total costs to account for Ending work in process inventory
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