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Prepare a cost of production report using the weighted average method. The following information pertains to the mixing department of Bridgeport Paint Products for May
Prepare a cost of production report using the weighted average method.
The following information pertains to the mixing department of Bridgeport Paint Products for May 2012: UNITS Work-in-process, May 1 (100% complete, materials; 60% complete, labour and overhead) 5,300 80,800 Started during May Work-in-process, May 31 (100% complete, materials; 35% complete, labour and overhead) 8,200 Cost of work-in-process, on May 1, in the mixing department were as follows: Work-in-process, May 1: $31,500 24,400 15,200 $71,100 Materials Direct labour Overhead Total The costs added by the mixing department during May were as follows: Materials$752,010 Direct labour 306,400 Overhead 187,082 Total$1,245,492Step by Step Solution
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