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The owner of Fino Linens Inc., a manufacturer of bed and bath linens, insisted on a formal report that provided all the details of the
The owner of Fino Linens Inc., a manufacturer of bed and bath linens, insisted on a formal report that provided all the details of the weighted average method. In the manufacturing process, all materials are added at the beginning. The following data are for the bath linens department for August:
Production: | |||
Units in process, August 1, 40 percent complete | 60,000 | ||
Units completed and transferred out | 480,000 | ||
Units in process, August 31, 70 percent complete | 40,000 | ||
Costs: | |||
Material | Conversion | ||
WIP, August 1 | $168,000 | $ 49,300 | |
Current costs | 472,000 | 182,000 | |
Total | $640,000 | $231,300 |
Required:
Prepare a cost of production report for the bath linens department for August using the weighted average method. Round "Per unit cost" values to the four decimal places.
Bath Linens Department Assembly Department Production Report For March (Weighted Average Method) Unit Information Physical flow: Units to account for: Units in beginning WIP Units started Total units Units accounted for: Units completed Units in ending WIP Total units Units accounted for: Materials Conversion Completed EWIP Total Cost Information Costs to account for: Materials Conversion BWIP Added Total Grand total Per unit cost: Materials Conversion in noi tha Total Costs accounted for: Units transferred out EWIP - material ConversionStep by Step Solution
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