Question: Current Attempt in Progress Marigold Company uses the weighted average process cost system. The Molding Department adds materials at the beginning of the process and
Current Attempt in Progress Marigold Company uses the weighted average process cost system. The Molding Department adds materials at the beginning of the process and conversion costs are incurred uniformly throughout the process. Work in process inventory on May 1 was 75% complete and work in process inventory on May 31 was 60% complete as to conversion costs Complete the Production Cost Report for the Molding Department for the month of May using the above information and the information below. (Round unit costs answers to 2 decimal places, eg. 52.75) MARIGOLD COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Equivalent Units of Production QUANTITIES Physical Units Materials Units to be accounted for Work in process, May 1 7.520 Started into production 30,080 Total units to be accounted for 37,600 Units accounted for Conversion Costs Question 14 of 14 Completed and transferred out 32,900 Work in process, May 31 4,700 Total units accounted for 37,600 COSTS Unit costs Costs in May Equivalent units of production a Unit costs Costs to be accounted for Work in process, May 1 Started into production : Total costs to be accounted for Cost Reconciliation Schedule Costs accounted for Materials $131,600 Conversion Costs $151810 25 Total 454 Char Unit costs Costs to be accounted for Work in process. May 1 Started into production Total costs to be accounted for Cost Reconciliation Schedule Costs accounted for Completed and transferred out Work in process, May 31 Materials Conversion costs Total costs accounted for Save for Later Attempts: 0 of 2used Submit Answer 45'9 Clear
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