Question: Able 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
Able 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 | 30% |
| Costs in the beginning inventory: |
|
| Materials cost | $342 |
| Conversion cost | $2,394 |
| Units started into production during the month | 21,000 |
| Units completed and transferred out | 20,700 |
| Costs added to production during the month: |
|
| Materials cost | $44,136 |
| Conversion cost | $546,750 |
| Work in process, ending: |
|
| Units in process | 600 |
| Stage of completion with respect to materials | 80% |
| Stage of completion with respect to conversion | 30% |
Required: Prepare a production report for the department using the weighted-average method.
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