Venosis Sports Is a Manufacturer of Sportswear Beginning Work in Process Was Half Complete as to Conversion

question 1

Essay

Venosis Sports is a manufacturer of sportswear.It produces all of its products in one department.The information for the current month is as follows:
$\begin{array}{lr}\text { Beginning work in process } & 22,000 \text { units } \\\text { Units started } & 44,000 \text { units } \\\text { Units completed } & 55,000 \text { units } \\\text { Ending work in process } & 10,000 \text { units } \\\text { Spoilage } & 1,000 \text { units }\\\\\text { Beginning work-in-process direct materials } & \$ 15,000 \\\text { Beginning work-in-process conversion } & \$ 6,000 \\\text { Direct materials added during month } & \$ 70,800 \\\text { Direct manufacturing labor during month } & \$ 37,400\end{array}$
Beginning work in process was half complete as to conversion.Direct materials are added at the beginning of the process.Factory overhead is applied at a rate equal to 50% of direct manufacturing labor.Ending work in process was 60% complete.All spoilage is normal and is detected at end of the process.
Required:
Prepare a production cost worksheet if spoilage is recognized and the weighted-average method is used.

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Definitions:

Codes of Ethics

Guidelines designed to set out acceptable behaviors for members of a particular group, profession, or organization.

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The responsibility of professionals to act ethically, to adhere to standards, and to be answerable for their actions, decisions, and the outcomes of their work.

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