Ayres Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company”s first processing department for a recent month.
|
Work in process, beginning: |
|
|
Units in process |
300 |
|
Stage of completion with respect to materials |
60% |
|
Stage of completion with respect to conversion |
60% |
|
Costs in the beginning inventory: |
|
|
Materials cost |
$1,314 |
|
Conversion cost |
$6,102 |
|
Units started into production during the month |
22,000 |
|
Units completed and transferred out |
21,800 |
|
Costs added to production during the month: |
|
|
Materials cost |
$164,436 |
|
Conversion cost |
$728,058 |
|
Work in process, ending: |
|
|
Units in process |
500 |
|
Stage of completion with respect to materials |
60% |
|
Stage of completion with respect to conversion |
10% |
Required:
Prepare a production report for the department using the weighted-average method.