Complete this production cost report: Enter all amount as positive values. If required round "Cost per unit" answers to two decimal place. Production Cost Report Beginning inventory 19,000 Started during the month 76,000 Total units to account for fill in the blank 1 Completed and transferred out 69,000 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 30% Materials Units Conversion Units Total Units Completed and transferred out 69,000 69,000 69,000 Ending work in process fill in the blank 4 fill in the blank 5 fill in the blank 6 Total units to account for fill in the blank 7 fill in the blank 8 fill in the blank 9 Costs to account for Materials Conversion Total Beginning work in process $3,000 $17,000 $20,000 Transferred in — — — Incurred during the period 16,000 44,440 60,440 Total costs to account for $fill in the blank 10 $fill in the blank 11 $fill in the blank 12 Equivalent units fill in the blank 13 fill in the blank 14 Cost per equivalent unit for department $fill in the blank 15 $fill in the blank 16 $fill in the blank 17 Transferred-out costs $fill in the blank 18 End work in process: materials $fill in the blank 19 End work in process: conversion fill in the blank 20 End work in process: total fill in the blank 21 Costs to account for $fill in the blank 22 z

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...

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Complete this production cost report: Enter all amount as positive values. If required round "Cost per unit" answers to two decimal place.

Production Cost Report
Beginning inventory	19,000
Started during the month	76,000
Total units to account for	fill in the blank 1
Completed and transferred out	69,000
Ending work in process	fill in the blank 2
Total units to account for	fill in the blank 3

Work in process completion percent	100%	30%
	Materials Units	Conversion Units	Total Units
Completed and transferred out	69,000	69,000	69,000
Ending work in process	fill in the blank 4	fill in the blank 5	fill in the blank 6
Total units to account for	fill in the blank 7	fill in the blank 8	fill in the blank 9


Costs to account for	Materials	Conversion	Total
Beginning work in process	$3,000	$17,000	$20,000
Transferred in	—	—	—
Incurred during the period	16,000	44,440	60,440
Total costs to account for	$fill in the blank 10	$fill in the blank 11	$fill in the blank 12
Equivalent units	fill in the blank 13	fill in the blank 14
Cost per equivalent unit for department	$fill in the blank 15	$fill in the blank 16	$fill in the blank 17

Transferred-out costs		$fill in the blank 18
End work in process: materials	$fill in the blank 19
End work in process: conversion	fill in the blank 20
End work in process: total		fill in the blank 21
Costs to account for		$fill in the blank 22	z

Expert Solution

Step 1 Introduction

Process Costing: When units are continually mass-produced by one or more processes, process costing is a technique of cost that is mostly employed in manufacturing. It is the process that is costed in process costing (unlike job costing where each job is costed separately).

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