Test/Exam 2 (Ch. 5-7) Production Report Alfombra Inc. manufactures throw rugs. The throw rug department weaves cloth and yarn into throw rugs of various sizes. Alfombra uses the weighted average method. Materials are added uniformly throughout the weaving process. In August, Alfombra switched from FIFO to the weighted average method. The following data are for the throw rug department for August: Production: Units in process, August 1, 60% complete 40,000 Units completed and transferred out 120,000 Units in process, August 31, 60% complete 40,000 Costs: WIP, August 1 $144,000 Current costs 604,800 Total $748,800 The owner of Alfombra insisted on a formal report that provided all the details of the weighted average method. In the manufacturing process, all materials are added uniformly throughout the process. Required: Prepare a production report for the throw-rug department for August using the weighted average method. If an amount box does not require an entry, leave it blank or enter zero "0". Round cost per equivalent unit value to the nearest cent and use rounded value in intermediate calculations, Alfombia Inc. Throw Rug Department Production Report For the Month of August (Weighted Average Method) Unit Information Physical flow: Units to account for: Units in beginning WIP 40,000 Units started 120,000 Total units to account for 160,000 Units accounted for: Units Units completed 120,000 40,000 Units in ending WIP Total units accounted for 160,000 Units Equivalent units: Units completed 120,000 Units in ending work in process 24,000 Total equivalent units 144,000 Cost Information Costs to account for: Dollars Costs in beginning work in process $ 144,000 Costs added by department 604,800 Total costs to account for $ 748,800 Cost per equivalent unit 5.2 Cost Information Costs to account for: Dollars 144,000 Costs in beginning work in process Costs added by department 604,800 Total costs to account for $ 748,800 5.2 Cost per equivalent unit Costs accounted for: Transferred Out Ending Work in Process Total Goods transferred out Goods in ending work in process Conversion Total costs accounted for $624,000 $ 124,800 $ 124.800 $ 748,800