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Wildhorse Company uses the weighted-average process cost system. The Molding Department adds materials at the beginning of the process and conversion costs are incurred
Wildhorse Company uses the weighted-average process cost system. The Molding Department adds materials at the beginning of the process and conversion costs are incurred uniformly throughout the process. Work in Process Inventory on May 1 was 75% complete as to conversion costs and Work in Process Inventory on May 31 was 60% complete for conversion costs. Complete the Production Cost Report for the Molding Department for the month of May using the above information and the information below. (Round unit costs answers to 2 decimal places, e.g. 52.75.) WILDHORSE COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Quantities Physical Units Materials Equivalent Units Conversion Costs Units to be accounted for Work in process, May 1 10,400 Started into production 41,600 Total units 52,000 Units accounted for Completed and transferred out 45,500 45500 45500 Work in process, May 31 6,500 6500
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