Posted: July 6th, 2016

Prepare a process cost report for June?

I need assistance with the “Units Completed and Transferred out (Cost of Goods Manufactured)”.

1. Data for Osaka Corporation for the month of June 20xx are as follows:
Beginning work in process inventory: Operations for the month of June:
Units – 800 Units started- 14,000
Direct materials – 100% complete Direct materials costs – $57,400
Conversion costs – 70% complete Conversion costs – $50,122
Direct materials costs – $2,860 Conversion costs – $2,150
Ending work in process inventory:
Units – 1,500
Direct materials – 100% complete
Conversion costs – 30% complete

Assume the company uses average costing method.
Prepare a process cost report for June.

a.
Osaka Corporation
Process Cost Report: Average Costing Method
For the Month Ended June 30, 20xx

[See attachment parts 1 & 2.]

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