Oslo Company produces large quantities of a standardized product. The following information is available for...
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Accounting
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.
Note: Round "Cost per EUP" to 2 decimal places.
| Units | Direct Materials | Conversion | |
|---|---|---|---|
| Percent Complete | Percent Complete | ||
| Beginning work in process inventory | 6,300 | ||
| Units started this period | 23,500 | ||
| Completed and transferred out | 22,200 | ||
| Ending work in process inventory | 7,600 | 100% | 40% |
| Beginning work in process inventory | ||
|---|---|---|
| Direct materials | $ 5,258 | |
| Conversion | 11,568 | $ 16,826 |
| Costs added this period | ||
| Direct materials | 401,590 | |
| Conversion | 497,192 | 898,782 |
| Total costs to account for | $ 915,608 |
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