Solution-Prepare the cost of production report using

Prepare the cost of production report using weighted average

Reference no: EM132561073

The financial information of GHI manufacturing company pertaining to its operation for the month of January is presented below:

Unit Data

Beginning Units 100,000

Completed Units 1,000,000

Ending Units 200,000

Cost Data

Beginning Work in process costing

Direct materials 1,400,000

Conversion Cost 80, 000

Started manufacturing cost during the period

Direct Materials 1,400,000

Conversion Cost 880,000

All materials are added at the start of production. Beginning units are 80% complete to conversion while ending units are 75% complete to conversion. (rounding off: 4 decimal place)

Required

Question 1: Prepare the cost of production report using weighted average and FIFO (First In First Out) method

Reference no: EM132561073

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Prepare the cost of production report using weighted average

Reference no: EM132561073

Reference no: EM132561073

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