Elliott Company produces large quantities of a standardized product. The following information is available for its first production department for March. Prepare a production cost report for this department using the weighted average method.

 Exercise 3-16 (Algo) Weighted average: Production cost report LO P2

Elliott Company produces large quantities of a standardized product. The following information is available for its first production department for March. Prepare a production cost report for this department using the weighted average method. (Round "Cost per EUP" to 2 decimal places.)

 
      Units     Direct Materials     Conversion
Percent Complete     Percent Complete
Beginning work in process inventory     2,500           
Units started this period     25,000           
Completed and transferred out     22,500           
Ending work in process inventory     5,000     100%     35%

 
Beginning work in process inventory           
Direct materials     $ 4,800     
Conversion     11,400     $ 16,200
Costs added this period           
Direct materials     200,350     
Conversion     372,720     573,070
Total costs to account for           $ 589,270

 

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