Reference no: EM132572035

Anchor Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.

Work in process, beginning:

Units in process............................................................... 800

Stage of completion with respect to materials................ 60%

Stage of completion with respect to conversion............. 10%

Costs in the beginning inventory:

Materials cost.................................................................. $1,296

Conversion cost.............................................................. $2,416

Units started into production during the month.............16,000

Units completed and transferred out..............................16,500

Costs added to production during the month:

Materials cost.................................................................. $47,076

Conversion cost.............................................................. $497,213

Work in process, ending:

Units in process...............................................................300

Stage of completion with respect to materials................60%

Stage of completion with respect to conversion.............70%

Required:

Question 1: Prepare a production report for the department using the weighted-average method.