PA 5. LO 5.3 Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account For Beginning inventory: materials Beginning inventory: conversion $ 10,000 Units to Account For Beginning work in process 19,000 Direct materials 50,000 Units started into production Transferred out 5,000 20,000 19,000 Direct labor 75,000 Applied overhead 37,248 Total costs to account for $191,248
PA 5. LO 5.3 Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account For Beginning inventory: materials Beginning inventory: conversion $ 10,000 Units to Account For Beginning work in process 19,000 Direct materials 50,000 Units started into production Transferred out 5,000 20,000 19,000 Direct labor 75,000 Applied overhead 37,248 Total costs to account for $191,248
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:PA 5. LO 5.3 Materials are added at the beginning of a production process, and ending work in process
inventory is 30% complete with respect to conversion costs. Use the information provided to complete a
production cost report using the weighted-average method.
Costs to Account For
Beginning inventory: materials
Beginning inventory: conversion
$ 10,000
Units to Account For
Beginning work in process
19,000
Direct materials
50,000
Units started into production
Transferred out
5,000
20,000
19,000
Direct labor
75,000
Applied overhead
37,248
Total costs to account for
$191,248
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