Chapter 5 Process Costing PAS. O 5.3 Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted average method. Costs to Account For Beginning inventory: materials Beginning inventory: conversion Direct material Direct labor Applied overhead Total costs to account for Units to Account For Beginning work in process Units started into production Transferred out 5,000 20,000 19,000 $ 10,000 19,000 50,000 75,000 37,248 $191,248 Equivalent Units and Product Cost Report - Weighted Average Method Company Name Equivalent Units Calculations, Month, 201X do them from? Equivalen Direct Materials wir % Work Dons? Work Dene? Beginning liventory Started Total Completed Transferred Ending Inventory Total Product Cost Report Direct Materials Where the cost come from Beginning liventory Current Total Costs account for Divided by Total Equivalent Units Average Cos/ Equivalent Unit We do nosso Completed transferred: Direct Materials Conversion Costs Cost of Goods Manufactured Ending Investory: Direct Materials Conversion Costs Cost of Ending Inventory Total Cost Allocated