Bagger, Inc

question 108

Essay

Bagger, Inc. uses a process costing system. The following operating and cost data occurred during October:
Materials are added at the beginning of the process. Direct labor and overhead are incurred evenly throughout the process. Prepare the October process cost summary assuming the weighted average method of inventory costing.

---

Definitions:

Physical Inventory Worksheet

A document used to record actual inventory count and compare it against what is recorded in the accounting records.

Warehouse

A large building where raw materials or manufactured goods are stored prior to their distribution for sale.

Sales Taxes

Taxes imposed on sales of goods and services that are generally paid by the consumer.

Manage Sales Tax

The process of calculating, collecting, reporting, and paying taxes on sales transactions to the appropriate tax authorities.