Need all work shown so i understand how to do this.
Kali Manufacturing Inc. began the year with the following.
Transferred to finished goods
Materials added at the beginning of the process
Calculate the equivalent units for
- material costs under the weighted average process cost method;
- conversion costs under the weighted average process cost method;
- material costs under the FIFO process cost method; and
- conversion costs under the FIFO process cost method.
Glass Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows.
In process, beginning of month (20% converted)
Started during current month
Completed and transferred to finished goods
In process, end of month (60% converted)
Work in process, beginning
Production Costs Added
-Direct labor cost
-Factory overhead cost
Prepare a cost of production report for current month. Use Weighted-Ave process costing.