(Answered) Question - jwell manufacturing company jmc makes

Accounting

Question - Jwell Manufacturing Company (JMC) makes promotional flags and used a process costing system (weighted average method). The following information relates to JMC:

Weighted Average Method

	Physical Units	Direct Material	Conv Costs
WIP , Beginning	5,000	25,000	17,500
Started during period	12,000
Good units comp/transferred	12,500
Normal spoilage	200
Abnormal spoilage	100
WIP, Ending	4,200
Total costs added in period		21,800	27,500
Completion: WIP (Begin): DM 80%, CC 50% WIP (Ending): DM 80%, CC 30%

Required: Prepare a Cost of Production Report that includes the calculation of equivalent units, the cost per equivalent units, a summary of costs to account for and the cost of units transferred and the cost of the units in ending work in process.

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