Part II.-Problem - Process Costing - 20 Points Four Seasons Company makes snow b
ID: 2547757 • Letter: P
Question
Part II.-Problem - Process Costing - 20 Points Four Seasons Company makes snow blowers. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September, wo in process is 40% complete and at the endof the month it is 60% complete. Other data f the month include: Beginning work-in-process inventory 1,600 unit nis placed in fnished goods 3.00 unit | 200,000 Units started 3,200 unit osts added: onversion costs ost of direct materials 5260,00 Beginning work-in-process costs: Materials Conversion $154,000 S 82,08 Required: Prepare a production cost worksheet using the weighted-average method of process costing.Explanation / Answer
PRODUCTION COST WORKSHEET
Costs Totals Direct Materials Conversion Work in process, beginning $ 236080 $154000 $82080 Costs added during period 460000 260000 200000 Total costs to account for 696080 414000 $ 282080 Divided by equivalent units 3600 3440 Equivalent unit costs $197 $115 $82 Assignment of Cost: Completed units (3,200 × $197) $630,400 Work in process, ending Direct materials (400 ×$115) $46,000 Conversion (400 × $82 ×0.60) 19,680 65,680 Costs accounted for $696,080