Exercise 16-17 (Static) Weighted average: Production cost report 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	4,000
Units started this period	12,000
Completed and transferred out	13,000
Ending work in process inventory	3,000	100%	25%

Beginning work in process inventory
Direct materials	$ 2,880
Conversion	5,358	$ 8,238
Costs added this period
Direct materials	197,120
Conversion	234,992	432,112
Total costs to account for		$ 440,350

Exercise 16-17 (Static) Weighted average: Production cost report 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.)