Port Manufacturing Company uses a process costing system. The following information is available for the first production department for October. Direct Haterials Conversion Percent Units Percent Complete 20,000 Complete Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 55,000 60, 000 15,000 40% Beginning work in process inventory Direct materials $ 82, 500 $.73, 200 Conversion $ 155, 700 Costs added this period Direct materials $ 240, 000 204, 000 Conversion $ 444,000 Prepare the company's production cost report for October using the weighted-average method

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Port Manufacturing Company uses a process costing system. The following information is available for the first production department for
October.
Direct Materials Conversion Percent
Units
Percent Complete
Complete
Beginning work in process inventory
Units started this period
Completed and transferred out
Ending work in process inventory
20,000
55,000
68, 000
15,000
40%
Beginning work in process inventory
$ 82, 500
$ 73, 200
Direct materials
Conversion
$ 155, 700
Costs added this period
Direct materials
Conversion
S 240, 000
204, 000
$ 444,000
Prepare the company's production cost report for October using the weighted-average method.
Transcribed Image Text:Port Manufacturing Company uses a process costing system. The following information is available for the first production department for October. Direct Materials Conversion Percent Units Percent Complete Complete Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 20,000 55,000 68, 000 15,000 40% Beginning work in process inventory $ 82, 500 $ 73, 200 Direct materials Conversion $ 155, 700 Costs added this period Direct materials Conversion S 240, 000 204, 000 $ 444,000 Prepare the company's production cost report for October using the weighted-average method.
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