This spreadsheet has missing fonts. Ch16 Case Study Assignment - Part 3 Production Cost Report Problem The Wizarding Company uses the Process Cost System and the Average Costing Method. Materials and Conversion costs are added evenly throughout the process. The following production data are for the Mixing Dept for the month of June (Round unit costs to two decimal places): Production Costs Work in process, June 1st: Direct Materials: 100% complete $3,800 Conversion Costs: 70% complete 4,600 $8,400 Costs incurred during production in June: Direct Materials $17,000 Conversion Costs 20,000 37,000 Total Costs for June $45,400 Production Report Work in process, June 1st Units started in production during June Units completed & transferred out (DM 100% ; CC 100%) Work in process, June 30th (DM 100%; CC 30%) Units 200 5,000 4,800 400 1: Prepare a Production Cost Report using the Average Cost Method. Production Cost Report Production Cost Report Equivalent Units Quantities Units to be accounted for: (Step 1) Work in process, June 1st Started into production Total units Physical Units Direct Materials Conversion Costs (Step 1) Units accounted for: (Step 2) Completed & transferred out (DM 100%; CC 100% ) Work in process, June 30th (DM 100%; CC 30%) Equivalent Units (Step 2) Direct Materials Conversion Costs Total units Costs Direct Materials Conversion Costs (Step 3) Total Costs incurred to date (Step 4) Divide by equivalent units Costs per unit Costs to be accounted for Work in process, June 1st Started into production Total Costs Cost Reconciliation Schedule Costs accounted for: Completed and transferred out (DM 100%; CC 100% ) Work in process, June 30th: Direct Materials (100%) Conversion Costs (30%) Total Costs Total Production Costs