Regarding Cost Accounting,

Q1:

The following data relate to the second stage of an industrial facility for one of the cost periods:

1. Work-in-process entities at the beginning of the period 30,000 entity with 80% completion level.
2. Entities started during the period 10,000 entity.
3. Complete and transferred entities for the third phase, 27,000 entities.
4. Work-in-process entities last period of 13,000 entities with 80% completion level.

If you know that:

• Materials are added at the completion level of 70%.
• The cost of production in operation at the beginning of the period 450,000 riyals

(270,000 riyals direct materials, 180,000 riyals conversion costs)

• The costs of the stage in the current period are as follows:

(330,000 riyals direct materials, 119,200 riyals conversion costs)

Required:

Preparing the production report and costs for the current stage according to the weighted average method