Question: Prepare a production cost report using the weighted average method from the following information and journalize the transfer of cost of goods manufactured to the

Prepare a production cost report using the weighted average method from the following information and journalize the transfer of cost of goods manufactured to the warehouse. Material is added to the product when it is half finished and conversion is added evenly during the process.

Units: WIP, beginning 515,000

	Material	Conversion Costs
Units finished 960,000	100%	100%
WIP ending 730,000	2/5 completed	3/5 completed
Transferred in	$50,000	$51,000
Current Costs	$800,000	$1,175,000

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