Question: Below is Augusts unit and cost data for a manufacturing firm in Department 1 that uses weighted average costing. Beginning units in process (100% direct
Below is Augusts unit and cost data for a manufacturing firm in Department 1 that uses weighted average costing. Beginning units in process (100% direct materials, 65% conversion costs) 1,45,000 Work-in-process inventory-beginning Tk 4,72,000 Units tranferred in during the period 380,000 Costs transferred in during the period Tk 5,88,000 Costs added this period Direct materials Tk 8,12,700 Direct labor Tk 6,76,260 Factory overhead (applied) Tk 4,87,305 Units tranferred out to finished goods inventory 4,10,000 Ending units in process (100% direct materials and 70% conversion costs) ? Required i. Calculate the equivalent units for department 1. ii. Prepare the costs accounted for section for the cost of production report for Department 1.
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