Ranger Boat Company manufactures small pleasure boats on an assembly-line basis.The units are started in Department
A.On July 1 of this year,the Work-in-Process inventory of Department A consisted of 300 units 100% complete as to materials and 40% complete as to conversion.During the month,400 units were started and 600 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 $1,202,500 and conversion costs of $898,400.
Required: Prepare a production cost report using the weighted-average method.
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The Answer of Ranger Boat Company manufactures small pleasure boats on an assembly-line basis.The units are started in Department
A.On July 1 of this year,the Work-in-Process inventory of Department A consisted of 300 units 100% complete as to materials and 40% complete as to conversion.During the month,400 units were started and 600 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 $1,202,500 and conversion costs of $898,400.
Required: Prepare a production cost report using the weighted-average method.
Please see Feedback for answers.

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