Zyon Industries uses Weighted-Average process costing in accounting for its production activities. Materials are added at...

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Zyon Industries uses Weighted-Average process costing in accounting for its production activities. Materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. s are The production records for January indicate the following information: Quantities Beginning inventory in units (70% Complete) 15,000 Units started during month 120,000 Transferred to finished goods 85,000 Ending inventory in units (50% Complete) 50,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $170,200 Direct labour cost $30,800 Factory overhead $58,300 Required: 1. Design a cost of production report worksheet for Zyon that can be used by the company at the end of each month. Your worksheet should include a data section. Use the January data for the input. 2. Test your model using the following data for October. Quantities Beginning inventory in units (35% Complete) 13,000 Units started during month 105,000 Transferred to finished goods 112,000 Ending inventory in units (20% Complete) 6,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $155,200 Direct labour cost $23,800 Factory overhead $65,200 Zyon Industries uses Weighted-Average process costing in accounting for its production activities. Materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. s are The production records for January indicate the following information: Quantities Beginning inventory in units (70% Complete) 15,000 Units started during month 120,000 Transferred to finished goods 85,000 Ending inventory in units (50% Complete) 50,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $170,200 Direct labour cost $30,800 Factory overhead $58,300 Required: 1. Design a cost of production report worksheet for Zyon that can be used by the company at the end of each month. Your worksheet should include a data section. Use the January data for the input. 2. Test your model using the following data for October. Quantities Beginning inventory in units (35% Complete) 13,000 Units started during month 105,000 Transferred to finished goods 112,000 Ending inventory in units (20% Complete) 6,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $155,200 Direct labour cost $23,800 Factory overhead $65,200 Zyon Industries uses Weighted-Average process costing in accounting for its production activities. Materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. s are The production records for January indicate the following information: Quantities Beginning inventory in units (70% Complete) 15,000 Units started during month 120,000 Transferred to finished goods 85,000 Ending inventory in units (50% Complete) 50,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $170,200 Direct labour cost $30,800 Factory overhead $58,300 Required: 1. Design a cost of production report worksheet for Zyon that can be used by the company at the end of each month. Your worksheet should include a data section. Use the January data for the input. 2. Test your model using the following data for October. Quantities Beginning inventory in units (35% Complete) 13,000 Units started during month 105,000 Transferred to finished goods 112,000 Ending inventory in units (20% Complete) 6,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $155,200 Direct labour cost $23,800 Factory overhead $65,200 Zyon Industries uses Weighted-Average process costing in accounting for its production activities. Materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. s are The production records for January indicate the following information: Quantities Beginning inventory in units (70% Complete) 15,000 Units started during month 120,000 Transferred to finished goods 85,000 Ending inventory in units (50% Complete) 50,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $170,200 Direct labour cost $30,800 Factory overhead $58,300 Required: 1. Design a cost of production report worksheet for Zyon that can be used by the company at the end of each month. Your worksheet should include a data section. Use the January data for the input. 2. Test your model using the following data for October. Quantities Beginning inventory in units (35% Complete) 13,000 Units started during month 105,000 Transferred to finished goods 112,000 Ending inventory in units (20% Complete) 6,000 Beginning inventory costs Materials cost $2,000 Direct labour cost $2,500 Factory overhead $6,200 Current month costs Materials cost $155,200 Direct labour cost $23,800 Factory overhead $65,200

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