Reference no: EM133112067

Question - Beginning work in process on September 1 consisted of 101,000 tons that were 55% complete with respect to raw materials and 20% complete with respect to conversion costs.

Ending work in process on September 30 consisted of 47,000 tons that were 75% complete with respect to raw materials and 15% complete with respect to conversion costs.

1,115,000 tons of material were put into production.  There is no spoilage or loss of tonnage in the production process.

Beginning work in process carried costs of: direct materials: $126,000, direct labor: $52,000, and factory overhead: $103,000. Additional costs incurred during the month were: direct materials: $1,520,000, direct labor: $990,000, and factory overhead: $572,000).

(a) Prepare a cost of production report for September.

(b) Prepare journal entries to reflect 1) the introduction of additional costs during September, and 2) the transfer of completed units to finished goods.