Page 292, PB12

Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 80% complete with regard to conversion costs.

Use 80% as to DM and 40% as to CC for beginning inventory.

See table below.

A.) Using Weighted Average, what is the amount transferred to Finished Goods?

B.) Using Weighted Average, what is the Cost per Unit?

C.) Using FIFO, what is the amount transferred to Finished Goods? (round to nearest dollar).

D.) Using FIFO, what is the cost per unit for the beginning units? (rounded to cents)

E.) Using FIFO, what is the cost per unit for the started and completed units? (rounded to cents)

PB12. LO 5.4 Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 80% complete with regard to conversion costs. Costs to Account For Units to Account For Beginning inventory: materials $ 25,000 Beginning work in process 4,000 Beginning inventory: conversion 30,500 Units started into production 9,500 Direct material 2,000 Transferred out 9,600 Direct labor 45,000 Applied overhead 11,840 Transferred-in materials 12,015 Transferred-in conversion 33,500 Total costs to account for $159,855