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P4-3A. Product Cost Report-Weight Average Method Riley Manufacturing Corporation produces a cosmetic product in three consecutive processes. The costs of Department 1 for May 2019

P4-3A. Product Cost Report-Weight Average Method Riley Manufacturing Corporation produces a cosmetic product in three consecutive processes. The costs of Department 1 for May 2019 were as follows:

Cost of beginning inventory

Direct materials............................................................................................................$9,800

Conversion costs...........................................................................................................$16,480

Costs added in Department 1:

Direct materials.........................................................................................................$295, 120

Direct labor...............................................................................................................$298, 550

Manufacturing overhead..............................................................................................$203,130 $796,800

Department 1 handled the following units during May:

Units in process, May 1, 2019...................................................................................................................2,000

Units started in Department 1...................................................................................................................40,000

Units transferred to Department 2..............................................................................................................39,000

Units in process, May 31, 2019..................................................................................................................3,000

On Average, the May 1 units were 30% complete. The May 31 units were 60% complete. Materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Riley uses the weighted average method for process costing.

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Assemble the product cost report for Department 1 for May.

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