Exercise 16 17 Algo Weighted Average Production Cost Report Lo P2 Oslo Company Produces Large Quantities Of A Standar 1 (33.45 KiB) Viewed 26 times
Exercise 16 17 Algo Weighted Average Production Cost Report Lo P2 Oslo Company Produces Large Quantities Of A Standar 2 (57.78 KiB) Viewed 26 times
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 (Round "Cost per EUP" to 2 decimal places.) Beginning work in 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 5,500 19,500 19,000 6,000 $ 4,354 9,408 326,870 405,992 Direct Materials Conversion Percent Percent Complete Complete 100% $ 13,762 732,862 $ 746,624 Saved 40%
Unit reconciliation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP) weighted average method Equivalent Units of Production Cost per equivalent unit of production Production Cost Report-Weighted Average Method For Month Ended May 31 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 Units EUP EUP Direct Materials % Complete Costs EUP Cost per EUP Cost per EUP $ $ 0.00 0.00 EUP Direct Materials Total cost Total cost 0 Conversion % Complete Costs EUP EUP Conversion
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