Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account ForUnits to Account ForBeginning inventory: materialsBeginning inventory: conversionDirect materialsDirect labor$ 10,00019,00050,00075,00037,248$191,248Beginning work in processUnits started into productionTransferred out5,00020,00019,000Applied overheadTotal costs to account for

Production cost:Production cost can be defined as the cost incurred by the company in the…

Answered: Materials are added at the beginning of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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Materials are added at the beginning of a production process, and ending work in process inventory is 30% 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
Units to Account For
Beginning inventory: materials
Beginning inventory: conversion
Direct materials
Direct labor
$ 10,000
19,000
50,000
75,000
37,248
$191,248
Beginning work in process
Units started into production
Transferred out
5,000
20,000
19,000
Applied overhead
Total costs to account for

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