PRCSSWA Process Costing: Weighted Average Data Section Percent Complete 30% Units 40,000 Materials Cost $32,800 100,000 Conversion Cost $30,400 Work in process, beginning Materials added Conversion costs incurred Units completed during month Work in process, ending 400,000 140,000 20,000 60% Answer Section Tea Cakes, Inc. Cost of Production Report For Month of April Step 1: Units to Account For Beginning work in process Units started Total units to be accounted for 40,000 Units completed FORMULA1 Ending work in process 0 Total units accounted for 140,000 20,000 160,000 Step 2: Costs to Account For Beginning work in process Current period costs Total costs Total Materials FORMULA2 FORMULA3 500,000 100,000 $0 $0 Conversion FORMULA4 400,000 $0 Step 3: Equivalent Unit Computations Units completed and transferred Ending work in process Total units (must agree with step 1) Total equivalent units Total Equivalent units Units Materials Conversion FORMULA5 FORMULA6 FORMULA7 FORMULAS FORMULAS FORMULA 10 0 0 0 Step 4: Costs per Equivalent Unit Materials Conversion FORMULA11 FORMULA12 Cost per equivalent unit (rounded to nearest cent) Total unit cost (materials + conversion) FORMULA13 Step 5: Production Cost Allocation FORMULA 14 Units completed and transferred Ending work in process: Materials Conversion Total ending work in process Total costs accounted for (must agree with step 2) FORMULA 15 FORMULA 16 0 $0