Financial And Managerial Accounting

15th Edition

ISBN: 9781337902663

Author: WARREN, Carl S.

Publisher: Cengage Learning,

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Weighted Average Method, Unit Cost, Valuing Inventories

Applegate Enterprises produces premier raspberry jam. Output is measured in pints. Applegate uses the weighted average method. During January, Applegate had the following production data:

Units in process, January 1, 60% complete | 184,000 pints |

Units completed and transferred out | 700,000 pints |

Units in process, January 31, 40% complete | 225,000 pints |

Costs: | |

Work in process, January 1 | $202,400 |

Costs added during January | 666,600 |

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