Smith Electronic Companys chip-mounting production department had 300 units of unfinished product, each 50% completed on September 30. During October of the same year, this department put another 900 units into production and completed 1,000 units and transferred them to the next production department. At the end of October, 200 units of unfinished product, 70% completed, were recorded in the ending Work-in-Process Inventory. Smith Electronic introduces all direct materials when the production process is 50% complete. Direct labor and factory overhead (i.e., conversion) costs are added uniformly throughout the process. Following is a summary of production costs incurred during October:

Direct Materials Conversion Costs

Beginning work-in-process $ 3,712

Costs added in October $ 9,900 6,400

Total costs $ 9,900 $ 10,112

Required:

. 2. Prepare a production cost report for October using the weighted-average method.

SMITH ELECTRONIC COMPANY Chip-Mounting Production Department Weighted Average Production Cost Report Production Quantity Information Step 1: Analyze Flow of Physical Step 2: Calculate Equivalent Units Units Completion Direct Physical Units Conversion Percentage Materials Input Beginning work-in-process inventory Direct materials 96 Conversion 96 Started this period Total to account for 0 Output 96 Completed Ending work-in-process inventory Completion percentage Direct materials Conversion 96 0 Total accounted for Total work done to date (Total equivalent units) 0 Unit Cost Determination Total Direct Materials Conversion Costs Total Step 3: Determine Costs to Account for Beginning work-in-process inventory Current costs Total costs to account for $ 0 $ 0 S 0 Step 4: Compute Unit Costs Cost per equivalent unit Cost Assignment Completed and Transferred Out Ending Work- in-Process Total Step 5: Assign Total Manufacturing Costs Units completed and transferred out Ending work-in-process Materials Conversion Total costs accounted for $ 0 s 0