Preparing production cost report, missing amountsComplete the missing amounts in the following production report. Materials are added at the beginning of the process; conversion costs are incurred evenly, the ending inventory is 60% complete. The company uses the weighted-average method. NATHAN COMPANYProduction Cost Report-FINISHING DEPARTMENTMonth Ended September 30, 2018Equivalent UnitsPhysicalUnitsDirectMaterialsConversionUNITSCostsUnits to account for:Beginning work-in-processStarted in productionTotal units to account for5002,200(a)Units accounted for:Completed and transferred outEnding work-in-processTotal units accounted for(b)(d)G)500(e)(h)()()DirectMaterialsConversionCOSTSTotalCostsCostsCosts to account for:Beginning work-in-process$ 1,200$ 2,140Costs added during periodTotal costs to account forDivided by: Total EUPCost per equivalent unit12,0308,3109,250(k)22,480(m)(0)(n)0)Costs accounted for:Completed and transferred out(9)(1)()(u)Ending work-in-processTotal costs accounted for(V)(w)(x)$ 22,480

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Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 6E: The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000...

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Preparing production cost report, missing amounts

Complete the missing amounts in the following production report. Materials are added at the beginning of the process; conversion costs are incurred evenly, the ending inventory is 60% complete. The company uses the weighted-average method.

NATHAN COMPANY
Production Cost Report-FINISHING DEPARTMENT
Month Ended September 30, 2018
Equivalent Units
Physical
Units
Direct
Materials
Conversion
UNITS
Costs
Units to account for:
Beginning work-in-process
Started in production
Total units to account for
500
2,200
(a)
Units accounted for:
Completed and transferred out
Ending work-in-process
Total units accounted for
(b)
(d)
G)
500
(e)
(h)
()
()
Direct
Materials
Conversion
COSTS
Total
Costs
Costs
Costs to account for:
Beginning work-in-process
$ 1,200
$ 2,140
Costs added during period
Total costs to account for
Divided by: Total EUP
Cost per equivalent unit
12,030
8,310
9,250
(k)
22,480
(m)
(0)
(n)
0)
Costs accounted for:
Completed and transferred out
(9)
(1)
()
(u)
Ending work-in-process
Total costs accounted for
(V)
(w)
(x)
$ 22,480

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