Materials are added at the beginning of a production process, and ending work in process inventory is 20% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method.Costs to Account ForBeginning inventory: materialsBeginning inventory: conversionDirect materialDirect laborApplied overheadTotal costs to account forUnits to Account ForBeginning work in procesUnits started into productionTransferred outCompleted and transferred outEnding work in processTotal units to account forCompleted and transferred outEnding work in processTotal units to account forWork in process completion percentTransferred out costsEnd work in process: materialsCosts to account forBeginning work in processIncurred during the periodTotal costs to account forEquivalent unitsCost per equivalent unit for departmentEnd work in process: conversion$11,00018,00049,00076,00021,184$175,184End work in process: total5,00019,000Costs to account for17,000Production Cost Report100%20%Material Units Conversion Units Total UnitsMaterialsConversionTotal

Answered: Materials are added at the beginning of…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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Materials are added at the beginning of a production process, and ending work in process inventory is 20% 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
Direct material
Direct labor
Applied overhead
Total costs to account for
Units to Account For
Beginning work in proces
Units started into production
Transferred out
Completed and transferred out
Ending work in process
Total units to account for
Completed and transferred out
Ending work in process
Total units to account for
Work in process completion percent
Transferred out costs
End work in process: materials
Costs to account for
Beginning work in process
Incurred during the period
Total costs to account for
Equivalent units
Cost per equivalent unit for department
End work in process: conversion
$11,000
18,000
49,000
76,000
21,184
$175,184
End work in process: total
5,000
19,000
Costs to account for
17,000
Production Cost Report
100%
20%
Material Units Conversion Units Total Units
Materials
Conversion
Total

Expert Solution

Step 1

Under weighted-average method while calculating the equivalent units we do not take into consideration the units in the beginning work in process. But while calculating the cost per unit of equivalent units the cost in beginning work in process is also considered besides the cost added during the period.

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