Purpose a report that reconciles the total cost

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Reference no: EM1311286

How many units were started and completed from the given data.

Honeybutter, Inc., manufactures a product that goes through two departments prior to completion. The following information is available about the work in the first department, the Mining Department, during June.

		Percent Completed
	Units	Materials	Conversion
Work in process, beginning	70,000	70%	40%
Started into production	460,000
Completed and transferred out	450,000
Work in process, ending	80,000	75%	25%
		Materials	Conversion
Work in process, beginning	$36,550	$13,500
Cost added during	$391,850	$287,300

Required:

Assume that the campany uses the weighted-average method.

Prepare a report that reconciles the total cost assigned to the ending work in process inventory and the units transferred out with the costs in the beginning inventory and costs added during the period.

Reference no: EM1311286

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