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Larsen Company manufactures car seats in its San Antonio plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department. The process-costing system at Larsen Company has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the assembly department finishes work on each car seat, it is immediately transferred to testing. Larsen Company uses the weighted- average method of process costing. Data for the assembly department for October 2014 are as follows:
Physical Units (Car Seats)
Direct Materials
Conversion Costs
Work-in-process, October 1 *a
5,000
$1,250,000
$402,750
Started during October
20,000
Completed during October
22,500
Work-in-process, October 31 *b
2,500
Total costs added during October
$4,500,000
$2,337,500
a Degree of completion: direct materials,?%; conversion costs, 60%.
b Degree of completion: direct materials,?%; conversion costs, 70%.
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