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Unformatted text preview: 8-39NamePrepare a Production Cost Report and Adjust Inventory Balances: Weighted Avarage Method - Elmhurst PartsEnter the required data in the shaded cellsPart a.PhysicalMaterialsLaborOverheadUnitsEquiv. UnitsEquiv. UnitsEquiv. UnitsFlow of production units:Units to be accounted for:Beginning WIP inventory400,000 Units started this period2,000,000 Total units to be accounted for2,400,000 Units accounted for:Units completed and transferred out:From beginning inventory400,000 Started and completed currently1,400,000 Total transferred out1,800,000 1,800,000 1,800,000 1,800,000 Units in ending WIP inventory600,000 600,000 240,000 240,000 Total units accounted for2,400,000 2,400,000 2,040,000 2,040,000 DetailsFlow of costs:Total Costs Materials LaborOverheadCosts to be accounted for:Costs in beginning WIP inventory$2,038,000 $400,000 $910,000 $728,000 Current period costs$9,224,000 2,600,000 3,680,000 2,944,000 Total costs to be accounted for$11,262,000 $3,000,000 $4,590,000 $3,672,000 Costs per equivalent unit$1.25 $2.25 $1.80 Costs accounted for:Assigned to units transferred out:$9,540,000 $2,250,000 $4,050,000 $3,240,000 Costs assigned to ending WIP1,722,000 750,000 540,000 432,000 Total costs accounted for$11,262,000 $3,000,000 $4,590,000 $3,672,000 Part b.Part b....
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This note was uploaded on 04/10/2010 for the course HOA SEN 1234 taught by Professor Vananh during the Spring '10 term at Haaga - Helia University of Applied Sciences.
- Spring '10