Prepare a process cost summary report for this company showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)
Exercise 16-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following information is available for its production activities for May Units Costs Beginning work in process inventory Direct materials Conversion 4,000 12,000 3,000 Beginning work in process inventory Started $ 2,880 5,358 Ending work in process inventory $ 8,238 197,120 123,680 111,312 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 25% Overhead applied (90% of direct labor) $440,350 Total costs to account for $ 50,610 Ending work in process inventory Prepare a process cost summary report for this company showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for: Costs of beginning work in process Costs incurred this period 8,238 $ 8,238 $ Total costs to account for: Total costs accounted for $ 0 Difference due to rounding cost/unit Unit reconciliation: Units to account for: Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP)- weighted average method EUP- Materials EUP- % Conversion Conversion % Materials Units Total units Cost per equivalent unit of production Materials Conversion Total costs Costs Costs Equivalent units of production EUP EUP Cost per equivalent unit of production (rounded to 2 decimals) C 0 C Total costs accounted for: Cost per Cost of units transferred out EUP Total cost EUP Direct materials Conversion Total costs transferred out Cost per EUP Costs of ending work in process EUP Total cost 0.00 $ Direct materials 0 $ Conversion 0.00 Total cost of ending work in process Total costs accounted for
