FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
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Production Report, Weighted Average
Manzer Inc. manufactures bicycle frames in two departments: cutting and welding. Manzer uses the weighted-average method.
| Production: | |
| Units in process, October 1, 40% complete | 4,000 |
| Units completed and transferred out | 27,200 |
| Units in process, October 31, 60% complete | 8,000 |
| Costs: | |
| WIP, October 1 | $ 32,000 |
| Costs added during October | 608,000 |
Prepare a production report for the cutting department. Round cost per equivalent unit to the nearest cent. Use this rounded amount for further calculations. If an amount box does not require an entry, leave it blank or enter "0"
| Manzer Inc. |
| Cutting Department Production Report |
| For the Month of October (Weighted Average Method) |
-
Unit Information Physical flow: Units in beginning WIP Units started Total units to account for Equivalent units: Units completed Units in ending WIP Total units accounted for: Equivalent units: Units completed Units in ending WIP Total equivalent units Cost Information Costs to account for: Beginning WIP Incurred during October Total costs to account for Cost per equivalent unit Costs accounted for: Transferred Out Ending Work in Process Total Goods transferred out Goods in ending WIP Total costs accounted for
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