Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 4,000 Units started this period 12,000 Completed and transferred out 13,000 Ending work in process inventory 3,000 100% 25% Beginning work in process inventory Direct materials $ 2,880 Conversion 5,358 $ 8,238 Costs added this period Direct materials 197,120 Conversion 234,992 432,112 Total costs to account for $ 440,350
Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 4,000 Units started this period 12,000 Completed and transferred out 13,000 Ending work in process inventory 3,000 100% 25% Beginning work in process inventory Direct materials $ 2,880 Conversion 5,358 $ 8,238 Costs added this period Direct materials 197,120 Conversion 234,992 432,112 Total costs to account for $ 440,350
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 23E: Using the same data found in Exercise 6.22, assume the company uses the FIFO method. Required:...
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Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 4,000 Units started this period 12,000 Completed and transferred out 13,000 Ending work in process inventory 3,000 100% 25% Beginning work in process inventory Direct materials $ 2,880 Conversion 5,358 $ 8,238 Costs added this period Direct materials 197,120 Conversion 234,992 432,112 Total costs to account for $ 440,350
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