Question
Process costing system. Bakel Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the companys first processing
Process costing system.
Bakel Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the companys first processing department for a recent month.
Work in process, beginning:
Units in process............300
Stage of completion with respect to materials..........60%
Stage of completion with respect to conversion...........60%
Cost in the beginning inventory:
Materials cost ...........$1,314
Conversion cost ..........$ 6,102
Units started into production during the month ......... 22,000
Units completed and transferred out........21,800
Costs added to production during the month:
MAterials cost..............$164,436
Conversion cost............$728,058
Work in process, ending:
Units in process.............500
Stage of completion with respect to materials ........60%
SAtage of completion with respect to conversion .........10%
Required:
Prepare a production report for the department using the weighted-average and FIFO methods
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