Problem
Materials are added at the start of process and conversion costs are added evenly throughout. At the start of March WIP was 40% complete for conversion with material costs of 10000 and conversion cost of 60000.
Beginning WIP inventory-2000 units .Units started during the month the month - 15000 units .Units transferred to finish goods - 10000 units. ending WIP was 80% complete direct material cost - 500000. conversion cost - 751200
1. Prepare the production cost report for march using weighted average method.