Oslo Company produces large quantities of a standardized product. The following information is available for...
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Accounting
Oslo Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for May.
Units
Costs
Beginning work in process inventory
5,200
Beginning work in process inventory
Started
18,000
Direct materials
$
4,009
Ending work in process inventory
5,400
Conversion
8,598
$
12,607
Status of ending work in process inventory
Direct materials added
299,840
MaterialsPercent complete
100
%
Direct labor added
195,680
ConversionPercent complete
25
%
Overhead applied (90% of direct labor)
176,112
Total costs to account for
$
684,239
Ending work in process inventory
$
73,446
Prepare a process cost summary report for this process using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)
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