Weighted Average Process Costing

Processing Department:

Additional information follows:

Minot uses weighted average costing and applies manufacturing overhead to Work$-$in$-$Process at the rate of $100$ percent of direct labor cost.

Ending inventory in the Processing Department consists of $3,000$ units that are one$-$third converted.

Beginning inventory contained $2,000$ units, one$-$half converted, with a cost of $$33,900($ $$19,100$ for materials and $$14,800$ for conversion$).$

Cost of Production Report

Work$-$in$-$Process Analysis

$($a$)$ Prepare a cost of production report for the Processing Department for December.

Do not use negative signs with any of your answers.

Round Cost per equivalent unit in process to two decimal places, if needed. a$)$ Prepare a cost of production report for the Processing Department for December.

Do not use negative signs with any of your answers.

Round Cost per equivalent unit in process to two decimal places, if needed.

Minot Processing Company: Processing Department

Cost of Production Report

For the Month Ending December $31($b$)$ Prepare an analysis of all changes in Work$-$in$-$Process.

Do not use negative signs with any of your answers.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|\}$

$\backslash$hline Work$-$in$-$process: & & & $\backslash \backslash$

$\backslash$hline Beginning & & $\backslash$$ & $33,900\backslash (\backslash$cdot $\backslash )\backslash \backslash$

$\backslash$hline Current manufacturing costs: & & & $\backslash \backslash$

$\backslash$hline Direct materials & $\backslash$$ $142,900$ & & $\backslash \backslash$

$\backslash$hline Direct labor & $51,000\backslash (\backslash$cdot $\backslash )$ & & $\backslash \backslash$

$\backslash$hline Applied overhead & $51,000\backslash (\backslash$cdot $\backslash )$ & & $244,900\backslash (\backslash$cdot $\backslash )\backslash \backslash$

$\backslash$hline Total & & $\backslash$$ & $278,800\backslash \backslash$

$\backslash$hline Cost of goods manufactured & & & $\backslash (0\backslash$times $\backslash )\backslash \backslash$

$\backslash$hline Ending & & $\backslash$$ & $\backslash (0\backslash$times $\backslash )\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$