Edenton Boat Company manufactures small pleasure boats on an assembly-line basis. The units are started in the Department A. On July 1 of this year, the Work-in-Process inventory of the Department A consisted of 200 units 100% complete as to materials and 40% complete as to conversion. During the month, 400 units were started and 500 units were completed and transferred out. The Work-in-Process on July 31 was 100% complete as to materials and 30% complete as to conversion.
Costs in process at the beginning of the period amounted to $600,000 for materials and $160,000 for conversion. Costs added during the period were materials costs of $1,802,700 and conversion costs of $905,512.
Required:
Prepare a production cost report using the weighted-average method.

Question

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The Answer of Edenton Boat Company manufactures small pleasure boats on an assembly-line basis. The units are started in the Department A. On July 1 of this year, the Work-in-Process inventory of the Department A consisted of 200 units 100% complete as to materials and 40% complete as to conversion. During the month, 400 units were started and 500 units were completed and transferred out. The Work-in-Process on July 31 was 100% complete as to materials and 30% complete as to conversion.
Costs in process at the beginning of the period amounted to $600,000 for materials and $160,000 for conversion. Costs added during the period were materials costs of $1,802,700 and conversion costs of $905,512.
Required:
Prepare a production cost report using the weighted-average method.

Edenton Boat Company Manufactures Small Pleasure Boats on an Assembly-Line