Following are production data for a process costing system.
Beginning work in process, 30% complete 12,000 units
Started 90,000 units
Ending work in process, 70% complete 8,000 units
Costs:
Beginning work in process:
Direct Materials $ 28,800
Conversion costs 5,220
Materials used during the period 216,000
Conversion costs incurred during the period 139,200
a. Compute EUP for DM and CC if DM costs are incurred evenly throughout production.
b. Using the weighted average, prepare a process costing report.
c. Write out the journal entries for the costs incurred and the work performed this period under the weighted average method.