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The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for
The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning goods in process inventory is 20% complete with respect to direct labor and overhead. Equivalent units of production Weighted average method Units transferred out Units of ending goods in process Equivalent units of production Direct Direct Factory Materials Labor Overhead 32,000 32,000 32,000 1,500 2,500 1,500 34,500 33,500 33,500 Costs Direct Direct Factory Materials Labor Overhead Costs of beginning goods in process $ 18,550 $ 760 $ 1,520 Costs incurred this period Total costs 357,500 62,890 125,780 $376,050 $ 63,650 127,300 $
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