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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 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. Note: Round "Cost per EUP" to 2 decimal places. 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 Unit reconciliation: Units to account for: Total units to account for Units accounted for: Equivalent Units of Production Cost per equivalent unit of production Total units accounted for Equivalent units of production (EUP) - weighted average method Total costs + 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 $ 3,064 5,898 213,640 257,792 Units Units 4,200 13,000 13,800 3,400 EUP EUP Direct Materials Conversion Percent Complete OSLO COMPANY-First Department Production Cost Report - Weighted Average Method For Month Ended May 31 100% $ 8,962 471,432 $ 480,394 Direct Materials % Complete Costs EUP Cost per EUP Percent Complete Cost per EUP $ $ 0.00 0.00 35% EUP Direct Materials Total cost Total cost 0 Conversion % Complete Costs EUP EUP Conversion 0
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