Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Beginning work process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Units 4,900 16,500 16,600 4,800 $ 3,866 7,788 273,350 337,592 Direct Materials Percent Complete 100% $ 11,654 610,942 $ 622,596 Conversion Percent Complete OSLO COMPANY-First Department Production Cost Report - Weighted Average Method For Month Ended May 31 38%

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Exercise 16-17 (Algo) Weighted average: Production cost report LO P2
Oslo Company produces large quantities of a standardized product. The following Information is available for the first production
department for May. Prepare a production cost report for this process using the weighted average method.
Note: Round "Cost per EUP" to 2 decimal places.
Beginning work process inventory
Units started the period
Completed and transferred out
Ending work in process inventory
Beginning work in process inventory
Direct materials
Conversion
Costs added this period
Direct materials
Conversion
Total costs to account for
Unit reconciliation:
Units to account for:
Total units to account for
Units accounted for:
Equivalent Units of Production
Cost per equivalent unit of production
Total units accounted for
Equivalent units of production (EUP) - weighted average method
Total costs
+ Equivalent units of production
Cost per equivalent unit of production (rounded to 2 decimals)
Cost Assignment
Completed and transferred out
Direct materials
Conversion
Ending work in process
Direct materials
Conversion
Total costs accounted for
$ 3,866
7,788
273,350
337,592
Units
4,900
16,500
16,600
4,800
Units
EUP
EUP
Direct
Materials
Percent
Complete
OSLO COMPANY-First Department
Production Cost Report - Weighted Average Method
For Month Ended May 31
100%
$ 11,654
610,942
$ 622,596
Direct Materials
% Complete
Costs
EUP
Conversion
Percent
Complete
Cost per EUP
Cost per EUP
$
0.00
$
0.00
38%
EUP
Direct Materials
Total cost
Total cost
0
Conversion
% Complete
Costs
EUP
EUP
Conversion
0
Transcribed Image Text:Exercise 16-17 (Algo) Weighted average: Production cost report LO P2 Oslo Company produces large quantities of a standardized product. The following Information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Beginning work process inventory Units started the period Completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Unit reconciliation: Units to account for: Total units to account for Units accounted for: Equivalent Units of Production Cost per equivalent unit of production Total units accounted for Equivalent units of production (EUP) - weighted average method Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Cost Assignment Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for $ 3,866 7,788 273,350 337,592 Units 4,900 16,500 16,600 4,800 Units EUP EUP Direct Materials Percent Complete OSLO COMPANY-First Department Production Cost Report - Weighted Average Method For Month Ended May 31 100% $ 11,654 610,942 $ 622,596 Direct Materials % Complete Costs EUP Conversion Percent Complete Cost per EUP Cost per EUP $ 0.00 $ 0.00 38% EUP Direct Materials Total cost Total cost 0 Conversion % Complete Costs EUP EUP Conversion 0
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