The Bottling Department at Bart’s Beverages receives the blended soft drink in barrels and pours it into bottles. The following data are available for operations in the Bottling Department during August. (Note that the units here are bottles, not barrels.)
|
|
Bottles |
Percent Complete |
Costs |
|
Beginning work in process (WIP) inventory, |
|
|
|
|
August 1 |
50,000 |
|
|
|
Transferred in costs |
|
100% |
$ 6,998 |
|
Materials costs |
|
–0– |
–0– |
|
Conversion costs |
|
5 |
69 |
|
Units started in August |
240,000 |
|
|
|
Costs incurred in August |
|
|
|
|
Transferred in costs |
|
|
$33,602 |
|
Materials costs |
|
|
58,000 |
|
Conversion costs |
|
|
7,611 |
|
Ending WIP inventory, August 31 |
40,000 |
|
|
|
Transferred in costs |
|
100 |
? |
|
Materials costs |
|
100 |
? |
|
Conversion costs |
|
15 |
? |
Using weighted average process costing, prepare a cost of production report for August for the Bottling Department.