please answer the question using this format
2. Production Cost Report: Weighted Average Method. Calvin Chemical Company produces a chemical used in the production of silicon wafers. Calvin Chemical uses the weighted average method for its process costing system. The Mixing department at Calvin Chemical began the month of June with 5,000 units (gallons) in work-in-process Inventory, all of which were completed and transferred out during June. An additional 15,000 units were started during the month, 11,000 of which were completed and transferred out during June. A total of 4,000 units remained in work-in-process Inventory at the end of June and were at varying levels of completion, as shown in the following. Direct materials 60 percent complete Direct labor 40 percent complete 40 percent complete Overhead The cost information is as follows: Costs in beginning work-in-process inventory Direct materials $8,000 Direct labor $3,000 Overhead $2,800 Costs incurred during the month Direct materials $21,000 Direct labor $8.50 Overhead $.7200 Required: 1. 1. Prepare a production cost report for the Mixing department at Calvin Chemical Company for the month of June. 2. Confirm that total costs to be accounted for (from step 2) equals total costs accounted for (from step 4). Note that minor differences may occur due to rounding the cost per equivalent unit in step 3. Data Entry Section Unit Information Direct Materials Percent Complete Manufacturing Direct Labor Overhead Units units in beginning WIP inventory fall completed this period Units started and completed this period Units started and partially completed during the period Direct Materials Manufacturing Direct Labor Overhead Cest Information Costs in beginning WIP costs incurred during the period Company Name Production Cost Report Month ending Step 1: Summary of Physical Units and Equivalent Unit Calculations nits to be accounted for Physical Units units in beginning WIP inventory Units started during the Period Total units to be accounted for Equivalent Units Direct Materials Direct labor Manufacturing Overhead Physical Units 0 Units completed and transferred out Units In Ending WIP Inventory Total Units Accounted for ched for at bermanford 0 0 0 0 0 JOO 0 0 Step 2. Summary of Costs to be Accounted for Costo be contar Direct Materials Direct labor Costs in Beginning WIP inventory $ S Costs incurred during the Period $ $ Total costs to be accounted to 5 S Overhead $ $ 5 Total $ $ $ Total Step : calculation of Cost per Equivalent Unit Direct Materials Direct Labor Total costs to be accounted for al $ $ Total equivalent accounted for Cost per equivalent una fol NOVO! NOVO Overhead S VOI Total Step 4: Assign Costs to Urts Transferred and Onits in Erding WIP inventory Direct Materials Direct Labor Owochead Costs signed to units transferred out #DIV/01 #DIV/0! DIV/01 costs assigned to ending Winery DIVO ON/OI W/OI Total costs accounted for NOVO! ON/O! DIV/01 ON/OI
