Oslo Company produces large quantities of standardized products. The following information is available for your production activities
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Oslo Company produces large quantities of standardized products. The following information is available for your production activities for May.
Units | costs | ||||||
Initial work-in-process inventory | 4,900 | Initial work-in-process inventory | |||||
Began | 16,500 | Direct materials | ps | 3,780 | |||
Ending inventory of work in process | 4.800 | Conversion | 7,788 | ||||
ps | 11,568 | ||||||
Status of ending inventory of work in process | Added direct materials | 273,350 | |||||
Materials—Full Percentage | 100 | % | Direct labor added | 177,680 | |||
Conversion: percentage complete | 30 | % | Applied overhead (71.77% direct labor) | 127,526 | |||
Total costs to be accounted for | ps | 590,124 | |||||
Ending inventory of work in process | ps | 67,824 | |||||
Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent production units, cost per EUP, and your cost allocation and reconciliation. Use the weighted average method. (Do not round intermediate calculations. Round "Cost per EUP" to 2 decimal places.)
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Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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