March production and cost data for ABC Co. for the assembly process center are as follows.

16,500 units were started and 18,100 units were completed and transferred out.

Direct materials cost was $24,750.

Conversion cost was $38,690.

Transferred-in cost was $49,500.All materials are added at the beginning of the process.

Ending work in process was 1,500 units, 65% converted.

Beginning work in process consisted of 5,000 units, 25% converted.

Beginning work in process costs were $8,600 for direct materials, $11,500 for conversion, and $17,500 for transferred-in costs.

Units are inspected when the process is 80% complete as to conversion and normal spoilage is up to 3% of the units placed into production during the period.

Prepare standard Cost of Production Reports for the assembly process center for September using 1) FIFO costing and 2) weighted average, as well as all necessary journal entries (in summary form) for the assembly process center for September.

Answer rating: 100% (QA)

To prepare the standard Cost of Production Reports for the assembly process center for September using FIFO costing and weighted average we need to calculate the equivalent units and unit costs for di... View the full answer