Question

Project 4-Questions Word (2) Insert Design Layout References Malings Review Vew Check for Uedates Project 4 1) Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, work in process is 40% complete and at the end of the month it is 60% complete. Other data for the month include: imventory1.00 un work-in-process inventory nits started 2,000 uni 3,200 units placed in finished goods $200,000 n costs of direct materials work-in-process costs: $154,000 $ 82,080 Conversion Required: Prepare a production cost worksheet with supporting schedules using the weighted-average method of process costing MacBook Air sC F5 17 Insert Page Layout Formulas Data Review View Cut Copy ▼ Format B IU HomeIn Wrap Tee 1- Palatino Linot.--| | 10-1 A ^ Wrap Text Av 11 恒恒| Merge & Cente Paste Office Update To keep up-to-date with securtity updates, fxes, and improvements, choose Check for Updates Flow of l Units Direct Materials Conversion Work in process To account for Units 9 Work in 12 13 Work in 14 Costs added duri 15 Total costs to account for 16 Divided by Costs Totals Direct Materials Conversion 19 21 Work in 22 Direct materials 24 Costs accounted 26 b 27 Work in Process 8Materials Invent 29 Finished C 30 Work in Process 31 4 Weighted Average FIFO Method+

Answer 1

Step for solution
Step 1	Equivalent Units of production = Physical units multiplied by % of competition
Step 2	Calculate total cost to be accounted for
Step 3	Cost per Equivalent Unit = total cost to be accounted for / Equivalent Units of production
Step 4	Cost assigned to units transferred out = units completed and transferred out * Cost per Equivalent Unit
Step 5	Cost assigned to units ending work in progress = equivalent units in ending WIP inventory * Cost per Equivalent Unit

Four Season Company
Department production Report
Weighted average Method
Month ended September 30
Summary of Physical units
Units in beginning WIP inventory			1600
Units started during month			2000
Total unit to be accounted for			3600
Units completed and transferred out			3200
Units in ending WIP inventory (3600-3200)			400
Total unit accounted for			3600
Equivalent Units of production
Particulars	Physical units	Direct material		Conversion Cost
		%	units	%	units
units in beginning WIP inventory	1600	100%	1600	100%	1600
Units in Started and completed (3200-1600)	1600	100%	1600	100%	1600
Total Unit Completed	3200		3200		3200
units in ending WIP inventory	400	100%	400	60%	240
Equivalent Units of production			3600		3440
Summary of cost to be accounted
	Direct material	Conversion Cost	Total
Cost in beginning WIP	$        154,000	$          82,080	$         236,080
Cost incurred during Month (Add)	$        200,000	$        260,000	$         460,000
total cost to be accounted for	$        354,000	$        342,080	$         696,080
cost per Equivalent Unit
total cost to be accounted for	$        354,000	$        342,080
Divided by: Equivalent Units of production	3,600	3,440
Cost per Equivalent Unit	$      98.33333	$      99.44186	$    197.77519
Assign costs to units transferred out and units in ending WIP inventory
cost assigned to units transferred out
units completed and transferred out	3,200	3,200
Cost per Equivalent Unit	$      98.33333	$      99.44186
cost assigned to units transferred out	$        314,667	$        318,214	$         632,881
cost assigned to units ending work in progress
equivalent units in ending WIP inventory	400	240
Cost per Equivalent Unit	$      98.33333	$      99.44186
cost assigned to units ending work in progress	$          39,333	$          23,866	$           63,199
Total cost assigned			$         696,080