The accountant at Rogers Advantage needs to close the books at the end of July, using the following information. Direct materials are added at the start of production. Conversion costs are incurred evenly throughout production.
Inspection occurs when production is 70% completed. Normal spoilage is 14,500 units per month.
Physical Units
Work in process, beginning (30% complete)	32,000
Started during the month	158,000
Total units to account for	190,000
Good units completed and transferred out during the current period
From beginning work in process	32,000
Started and completed	100,000
Total goods completed	132,000
Spoiled units	16,000
Work in process, ending (60% complete)	42,000
Total units accounted for	190,000
Costs
Beginning inventory	$420,000
Direct materials	80,000
Conversion costs	500,000
Total beginning inventory
Costs added during current period:
Direct materials	2,880,000
Conversion costs	1,964,000
Total costs to account for	5,344,000
Required:
Prepare a process cost report using the weighted average method.