Question: Using the weighted average method, prepare a production cost report for the company 3. Chate Tires has three departments. Its first department (the Processing Department)

Using the weighted average method, prepare a production cost report for the company

Using the weighted average method, prepare a

3. Chate Tires has three departments. Its first department (the Processing Department) shows the following data for the month of July: Work in process, beginning: Units in process 8,000 Stage of completion with respect to materials 80% Stage of completion with respect to conversion 35% Costs in the beginning inventory: Materials cost S110,500 Laborcost $33,000 Overheadcost $26,000 Units started into production during the month 94,000 Units completed and transferred out 92,000 Costs added to production during the month: Materials cost $950,000 Laborcost $310,000 Overheadcost $170,000 Work in process, ending: Units in process Stage of completion with respect to materials 90% Stage of completion with respect to conversion 60% Required: Using the weighted average method. prepare a production cost report for the company

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