The following information was taken for the records of Hickory Manufacturing Company: Beginning Work-in-Process Inventory 800...

The following information was taken for the records of Hickory Manufacturing Company:

Beginning Work-in-Process Inventory	800
Units Completed	1,600
Ending Work-in-Process Inventory	400

Ending Work-in-Process Inventory was 100% complete as the materials and 20% complete as the conversion costs.

Cost Information:

	Materials	Conversion
Beginning Work-in-Process	$6,400	$4800
Added during period	9,600	12,000

Prepare a cost of production report based on the above information.

Please provide a step-by-step answer for the following problem:

Solutions

Expert Solution

Since the method to be used to prepare the cost of production report has not been specified in the question, average-cost method is being used to prepare the report.

The cost of production report will be prepared using average-cost method as follows:

Above figures have been calculated in the following manner:

ekkarill92 answered 1 year ago

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