Exercise 16 17 (Algo) Weighted Average Process cost summary LO P2 Oslo Company produces large quantities of a standardized product The following information is available for the first production department for May Prepare a production cost report for this process using the weighted average method (Round Cost per EUP to 2 decimal places ) Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 4,400 Units started this period 14,000 Completed and transferred out 14,600 Ending work in process inventory 3,800 100 25 Beginning work in process inventory Direct materials $ 3,303 Conversion 6,438 $ 9,741 Costs added this period Direct materials 230,400 Conversion 280,592 510,992 Total costs to account for $ 520,733

The Answer is in the image, click to view ...

Question: Exercise 16-17 (Algo) Weighted Average: Process cost summary LO P2 Oslo Company produces large quantities of a standardized product. The following information is available for

Exercise 16-17 (Algo) Weighted Average: Process cost summary LO P2

Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.)

	Units	Direct Materials	Conversion
	Units	Percent Complete	Percent Complete
Beginning work in process inventory	4,400
Units started this period	14,000
Completed and transferred out	14,600
Ending work in process inventory	3,800	100%	25%

Beginning work in process inventory
Direct materials	$ 3,303
Conversion	6,438	$ 9,741
Costs added this period
Direct materials	230,400
Conversion	280,592	510,992
Total costs to account for		$ 520,733

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Journal the following transactions related to the service business Toms Tailor Shop, owned by Tom Turnbull. 1. October 1. Received cash from owner, Tom Turnbull, as an investment, $5,000.00. Receipt...

Exercise 16-17 (Algo) Weighted Average: Process cost summary LO P2 Oslo Company produces large quantities of a standardized product. The following information is available for the first production...

Exercise 16-17 Weighted Average: Process cost summary LO C3 Exercise 16-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following...

Exercise 16-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its...

Prepare a process cost summary report for this company showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and...

Exercise 16-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following information is available for its production activities for...

ved Exercise 16-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its...

O Meat Vsted Getting Started Chapter 16 4 Exercise 16-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following information is...

Exercise 03-17 Weighted Average: Process cost summary LO C3 Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its...

Plate tectonics and the spread of the ocean floor are very important in modern studies of earthquakes and earth science in general. A random sample of islands in the Indian Ocean gave the following...

Bird foraging behavior is being studied in a managed forest that is made up of Douglas fir (52% of canopy volume), ponderosa pine (36%), and grand fir (12%).Two hundred thirty-eight red-breasted...

Write an agile project statement for healthcare shift to shift huddle or report?

Throughout the chapter the budget preparation process was illustrated with detailed budgets for baseball pants. Using information in the text and Exhibits 5-5, 5-6 and 5-8, prepare a detailed sales...

Using the information in the previous problem, compute the prices of In previous problem Suppose that S = $100, K = $100, r = 0.08, = 0.30, = 0, and T = 1. Construct a standard two-period binomial...

Kroger, a grocery store, recently had a price-earnings ratio of 13.7, while the average price earnings ratio in the grocery store industry was 22.5. What might explain this difference?

A company's current year net income (after income tax) is 25% larger than that of the preceding year. Does this indicate improved operating performance? Why?

Under what two conditions are volumebased traditional product costing systems most likely to distort product costs? How do activity-based costing systems provide more accurate costs when these two...

Under common law, which statement is accurate? Multiple Choice Lower courts must abide by the decisions handed down by higher courts. Higher courts must abide by the decisions handed down by lower...

In interviewing a prospective employee, why should you consider it important to inquire about the presence of information gaps or time periods that are not accounted for in an applicants work record?

Can you make use of personal information in rendering an employment decision if the information was voluntarily provided to you? Why or why not?

Why should an interviewing manager review all available information about an applicant before beginning an interview? Managers are busy people. Is arriving for an interview with an application in...