Question
Ritchie Company has two departments.Its first department (the Melting Department) shows the following data for the month of April: Work in process, beginning: Units in
Ritchie Company has two departments.Its first department (the Melting Department) shows the following data for the month of April:
Work in process, beginning:
Units in process
400
Stage of completion with respect to materials
60%
Stage of completion with respect to conversion
85%
Costs in the beginning inventory:
Materials cost
$170
Labour cost
$160
Overhead cost
$300
Units started into production during the month
1,100
Units completed and transferred out
1,400
Costs added to production during the month:
Materials cost
$1,300
Labour cost
$800
Overhead cost
$1,700
Work in process, ending:
Units in process
???
Stage of completion with respect to materials
70%
Stage of completion with respect to conversion
80%
Required:
Using the weighted average method, prepare a production cost report for the company.
I need detailed steps for learning and understanding
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started