Production Report, Weighted Average

Kinnamon Inc. manufactures bicycle frames in two departments: Cutting and Welding. Kinnamon uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the cutting department for October:

Production:
Units in process, October 1, 40% complete	10,000
Units completed and transferred out	68,000
Units in process, October 31, 60% complete	20,000
Costs:
WIP, October 1	$90,000
Costs added during October	$1,590,000

Required:

Prepare a production report for the cutting department. Round cost per equivalent unit to the nearest cent. Use this rounded amount for further calculations.

Cutting Department Production Report For the Month of October (Weighted Average Method) Unit Information Physical flow: Units to account for: Units in beginning WIP Units Units started Total units to account for Units accounted for: Units completed Units in ending WIP Total units accounted for Equivalent units: Units completed Units in ending WIP Total equivalent units Cost Information Equivalent units: Dollars Beginning WIP Incurred during October Total costs to account for Cost per equivalent unit Costs accounted for: Transferred Out Ending Work in Process Total Goods transferred out Goods in ending WIP Total costs accounted for