A Ltd produces a single product, A100, in one continuous process and uses weighted average to value inventory. All materials are entered at the process, and conversion cost is added uniformly throughout it.
Details of units
work in process 1 Feb 5000 50% complete
units started 25000
completed during February 27000
work in process 28 Feb 3000 20% complete
Details of costs
value of work in process 1 Feb $
material 7500
conversion cost 10000
costs for February
material issued 37500
conversion costs incurred 92400
prepare the process costs sheet for February