Product Cost ReportWeighted Average Method

Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The costs of Department 1 for June 2016 were as follows:

Cost of beginning inventory Direct material $2,750 Conversion costs 6,370 Costs added in Department 1 Direct material $111,835 Direct labor 179,150 Manufacturing overhead 77,700 368,685 Department 1 handled the following units during June: Units in process, June 1 2,000 Units started in Department 1 45,000 Units transferred to Department 2 46,000 Units in process, June 30 1,000 On average, the June 1 units were 40% complete; the June 30 units were 70% complete. Direct materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Gomez uses the weighted average method for process costing. Required Prepare the product cost report for Department 1 for June. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Required Prepare the product cost report for Department 1 for June. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number, Gomez Manufacturing Corporation Department 1 Flow of Units and Equivalent Units Calculations, June 2016 Equivalent Units % Work Direct % Work Conversion Done Materials Done Costs Complete/Transferred OX 100% OX 100% OX Ending Inventory OX 100% 0X 70% 0 X Total 0X Ox 0 x Product Cost Report S Direct Conversion Materials Costs 0 x $ OXS x OX OX OX OX OXS OX OX 0X $ OX 0 X $ $ 0x Beginning Inventory Current Total Costs to Account For + Total Equivalent Units Average cost / Equivalent unit (round four decimal places) Complete / Transferred: / Direct Materials Conversion costs Cost of Goods Manufactured Ending Inventory: Direct Materials Conversion costs Cost of Ending Inventory Total Costs Allocated OX OX $ $ OX 0X OX $ $ $ 0 x