Pet Products Company uses an automated process to manufacture its pet replica products. There are 2...

 

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Pet Products Company uses an automated process to manufacture its pet replica products. There are 2 departments, Design and Forming. The Forming Department had the following activities for June.: Physical Units Trans In Costs Direct Materials Conversion Costs: WIP Beg Inv $133,600 Degree of Completion 100% Transferred in Completed and Trans Out Ending Inv Degree of Completion 100% Total Costs added DM Conversion Transferred In $160,000 Required: 1 Prepare a production cost worksheet using the WAM method. 2. Prepare a production cost worksheet using the FIFO method i 200 500 530 170 0 0% 0% $112,000 $118,000 75% 20% $148,000 Pet Products Company uses an automated process to manufacture its pet replica products. There are 2 departments, Design and Forming. The Forming Department had the following activities for June.: Physical Units Trans In Costs Direct Materials Conversion Costs: WIP Beg Inv $133,600 Degree of Completion 100% Transferred in Completed and Trans Out Ending Inv Degree of Completion 100% Total Costs added DM Conversion Transferred In $160,000 Required: 1 Prepare a production cost worksheet using the WAM method. 2. Prepare a production cost worksheet using the FIFO method i 200 500 530 170 0 0% 0% $112,000 $118,000 75% 20% $148,000

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WEIGHTED AVERAGE METHOD Flow of Production Work in process beginning Transferred in To account for C... View the full answer