Prepare a cost production report for Department I and Department II using the Weighted Average Method.

Paper Needs Inc, has the following production data for the month of June 20xx.

			DEPARTMENT I		DEPARTMENT II
QUANTITY SCHEDULE			Units	Percentage of completion	Units	Percentage of completion
Work-in process, beginning			15,000	2/3 complete	9,000	1/3 complete
Transferred to next department			30,000		?
Work-in process, end			5,000	2/5 complete	8,000	7/8 complete
COST ANALYSIS			DEPARTMENT I		DEPARTMENT II
Work-in process, beginning
	Cost from preceding department
	Costs from this department
		Materials	₱16,290		₱7,992
		Labor	6,630		3,996
		Overhead	2,100		2,664
Costs added this month
		Materials	₱21,720		₱61,272
		Labor	14,618		46,620
		Overhead	5,068		31,080

 

In Department I, all materials are added at the start of the process, while labor and overhead are applied evenly throughout the process.
In Department II, 50% of materials are added at the start of the process and the balance is added when the process is ¾ completed. Conversion costs are applied uniformly to the process.