Missing Data; Production Report; Weighted-Average
The following data pertain to the Vesuvius Tile Company for July.
Work inprocess,July1 (in units) | 20,000 |
Units started during July | ? |
Total units to account for | 65,000 |
Units completed and transferred out during July | ? |
Work in process,July 31(in units) | 15,000 |
Total equivalent units: direct material | 65,000 |
Total equivalent units: conversion | ? |
Work in process, July1: direct material | $164,400 |
Work in process, July1: conversion | ? |
Costs incurred during July: direct material | ? |
Costs incurred during July: conversion | 659,400 |
Work in process, July 1: total cost | 244,200 |
Total costs incurred during July | 1,031,250 |
Total costs to account for | 1,275,450 |
Cost per equivalent unit: direct material | 8,25 |
Cost per equivalent unit conversion | ? |
Total cost per equivalent unit | 21.45 |
Cost of goods completed and transfered out during July | ? |
Cost remaining in ending work-in-process inventory: direct material | ? |
Cost remaining in ending work-in-process inventory: conversion | 79,200 |
Total cost ofJuly 31 work in process | 202,950 |
Additional Information:
a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.
b. The company uses weighted-average process costing.
c. The July 1 work in process was 30 percent complete as to conversion.
d. The July 31 work in process was.40 percent complete as to conversion.
Required: Compute the missing amounts, and prepare the firm's July production report.
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