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Trout Inc. Prepared The Following Production Report-Weighted Average

This production report summarizes the units, costs, and inventory for Trout Inc. It shows that 7,300 units were started into production, with 3,300 completed and transferred and 4,000 remaining as ending work in progress. The total cost of units in process was $385,000. The cost per equivalent unit was $58 for materials and conversion. Costs were properly accounted for between beginning inventory, current period costs, units completed, and ending inventory.

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Jalaj Gupta
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81 views4 pages

Trout Inc. Prepared The Following Production Report-Weighted Average

This production report summarizes the units, costs, and inventory for Trout Inc. It shows that 7,300 units were started into production, with 3,300 completed and transferred and 4,000 remaining as ending work in progress. The total cost of units in process was $385,000. The cost per equivalent unit was $58 for materials and conversion. Costs were properly accounted for between beginning inventory, current period costs, units completed, and ending inventory.

Uploaded by

Jalaj Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Trout Inc

Production Report (Weighted average)


Units
Units to be accounted for Physical Units
Beginning Work in process 3050
Started into production 4250
total Units 7300
Equivalent units
Units accounted for as follows Materials Conversion
Completed and transferred 3300 3300 3300
Ending Work in progress 4000 4000 2800
total units 7300 7300 6100

Costs Cost per equivalent unit


Materials Conversion Total cost
Cost of beginning inventory 19600 13600 33200
Current period costs 170200 181600 351800
total cost of units in process 189800 195200 385000
Equivalent units 7300 6100
Cost per equivalent unit 26 32 58

Reconcile work in process


Materials Conversion Total cost
Cost to be accounted for
Beginning WIP 19600 13600 33200
Current period costs 170200 181600 351800
total costs 189800 195200 385000

Cost accounted for as follows 85800 105600 191400


Units completed and transferred 104000 89600 193600
Ending Inventory 189800 195200 385000

7300-3050 4250
3300*100% 3300
7300-3300 4000
4000*100% 4000
4000*0.7 2800
3300+4000 7300
3300+2800 6100
189800/7300 26
195200/6100 32
26+32 58
3300*26 85800
3300*32 105600
85800+105600 191400
4000*26 104000
2800*32 89600
104000+89600 193600
Trout Inc
Production Report (Weighted average)
Units
Units to be accounted for Physical Units
Beginning Work in process 3000
Started into production 4000
total Units 7000
Equivalent units
Units accounted for as follows Materials Conversion
Completed and transferred 2000 2000 2000
Ending Work in progress 5000 5000 3500
total units 7000 7000 5500

Costs Cost per equivalent unit


Materials Conversion Total cost
Cost of beginning inventory 18000 14000 32000
Current period costs 122000 206000 328000
total cost of units in process 140000 220000 360000
Equivalent units 7000 5500
Cost per equivalent unit 20 40 60

Reconcile work in process


Materials Conversion Total cost
Cost to be accounted for
Beginning WIP 18000 14000 32000
Current period costs 122000 206000 328000
total costs 140000 220000 360000

Cost accounted for as follows 40000 80000 120000


Units completed and transferred 100000 140000 240000
Ending Inventory 140000 220000 360000

7000-3000 4000
2000*100% 2000
7000-2000 5000
5000*100% 5000
5000*0.7 3500
2000+5000 7000
2000+3500 5500
140000/7000 20
220000/5500 40
20+40 60
2000*20 40000
2000*40 80000
40000+80000 120000
5000*20 100000
3500*40 140000
100000+140000 240000
WIP
beg 40%
end 70%

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