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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