Production Report, Weighted Average

Murray Inc. manufactures bicycle frames in two departments: Cutting and Welding. Murray 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	$80,000
Costs added during October	1,441,000

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 in beginning WIP
Units started
Total units to account for
Equivalent units:
Units completed
Units in ending WIP
Total units to account for
Equivalent units:
Units completed
Units in ending WIP
Total equivalent units
Cost Information
Costs to account for:
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	$	$	$