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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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