Prepare the production report (section 1, 2, 3) from the following information:
Work in process, Sep 1: 500 units
Materials: 60% complete. $9,500
Conversion: 40% complete. 5,500
Production started during Sep: 5,000 units
Production completed during Sep: 4,800 units
Costs added to production in Sep
Materials cost $400,600
Conversion cost 375,400
Work in process, Sep 30: 700 units
Materials 30% complete.
Conversion 20% complete.
Required:
Prepare a production cost worksheet with supporting schedules using the weighted-average method of process costing.