Reference no: EM132523850

Process costing system

Zhyldyz 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 ........................................................... 300

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

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

Costs in the beginning inventory:

Materials cost ........................................................... $1,314

Conversion cost ........................................................ $6,102

Units started into production during the month .............. 22,000

Units completed and transferred out .............................. 21,800

Costs added to production during the month:

Materials cost .............................................................. $164,436

Conversion cost ........................................................... $728,058

Work in process, ending:

Units in process ........................................................... 500

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

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

Required:

Question 1: Prepare production report for the department using the weighted-average and FIFO methods.