Problem 20 3a Weighted Average Production Cost Report P2 P4 Tamar Co Manufactures A Single Product In Two Departments 1 (54.59 KiB) Viewed 10 times
Problem 20-3A Weighted average: Production cost report P2 P4 Tamar Co. manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Units 3,000 21,600 22,200 2,400 Conversion Total costs to account for Direct Materials Percent Complete 100% 100% $ 19,800 221,940 $ Conversion Percent Complete 241,740 496,800 2,165,940 2,662,740 $2,904,480 40% 80%
Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Units 3,000 21,600 22,200 2,400 Conversion Total costs to account for Direct Materials Percent Complete Percent Complete 100% 100% $19,800 221,940 $ 496,800 2,165,940 Conversion 241,740 2,662,740 $2,904,480 40% 80% Required 1. Prepare the Forming department's production cost report for May using the weighted average method. 2. Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!