The Laramie Factory Produces Expensive Boots Required:
Prepare a Production Cost Worksheet Using Weighted-Average Costing for Process

Essay

The Laramie Factory produces expensive boots.It has two departments that process all the items.During January,the beginning work in process in the tanning department was 40% complete as to conversion and 100% complete as to direct materials.The beginning inventory included $6000 for materials and for conversion costs.Ending work-in-process inventory in the tanning department was 40% complete.Direct materials are added at the beginning of the process.
Beginning work in process in the finishing department was 60% complete as to conversion.Beginning inventories included $7000 for transferred-in costs and $10 000 for conversion costs.Ending inventory was 30% complete.
Additional information about the two departments follows:
$$\begin{array} { | l | r | r | } \hline & \text { Tanning } & \text { Finishing } \\\hline \text { Beginning work-in-process units } & 5000 & 4000 \\\hline \text { Units started this period } & 14000 & ? \\\hline \text { Units transferred this period } & 16000 & 18000\\& & \\\hline \text { Ending work-in-process units } & ? & 2 0 0 0\\\hline & & \\\hline \text { Material costs added } & \$ 18000 & ? \\\hline \text { Conversion costs } & 32000 & \$ 19000 \\& & \\\hline \text { Transferred-out cost } & 50000 & ? \\\hline\end{array}$$
Required:
Prepare a production cost worksheet using weighted-average costing for the finishing department.
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