E3-19 Computing Missing Information from Production Report [LO 3-4]

Fincher Farms uses process costing to account for the production of canned vegetables. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning work in process is 30 percent complete; ending work in process is 40 percent complete.

The following is an excerpt from the production report for Fincher Farms.

Required:

Find the missing amounts.

FINCHER FARMS
Process Costing Production Report (Weighted-Average Method)
For the month ended January 31, 2013
	Physical Units
Units accounted for
Beginning work in process	40,000
Started into production
Total units	40,000
			Equivalent Units
	Physical Units		Direct Materials		Conversion Cost
Units accounted for
Completed and transferred	260,000		260,000
Ending work in process			80,000
Total units	260,000		340,000		0