Hilton Products manufactures one product in two departments on a continuous basis and uses the average method of process cost accounting. The following information was reported for the month of May. Hilton Products manufactures one product in two departments on a continuous basis and uses the average method of process cost accounting. The following information was reported for the month of May. Production Costs Machining Assembly Work in process, beginning of month: $ - $ 27,000 Cost in Machining Materials $ 4,000 $ 800 Labor 3,000 400 Factory overhead 2,000 $ 9,000 600 $ 1,800 Cost incurred during month: Materials $ 68,000 $ 44,000 Labor 51,000 22,000 Factory overhead 34,000 153,000 33,000 99,000 Total $ 162,000 $ 127,800 Production Costs Machining Assembly (Units) (Units) In process, beginning of month 1,000 1,000 Finished and transferred during month 5,000 4,000 In process, end of month 2,000 2,000 Stage of completion as to materials, labor, overhead One-half One-half Requirements: Prepare a cost of production summary for each department for the month. Berg Products Cost of Production Summary—Machining For the Month Ended May 31, 2011 Cost of work in process, beginning of month: Materials Labor Factory overhead Cost of production for month: Materials Labor Factory overhead Total costs to be accounted for Unit output for month: Finished and transferred to Assembly during month Equivalent units of WIP, end of month Total equivalent production Unit cost for month: Materials Labor Factory overhead Total Inventory costs: Cost of goods finished & transferred to Assembly during month Cost of work in process, end of month: Materials Labor Factory overhead Total production costs accounted for Berg Products Cost of Production Summary—Assembly For the Month Ended May 31, 2008 Cost of work in process, beginning of month: Cost in Machining Cost in Assembly: Materials Labor Factory overhead Cost of goods received from Machining during month Cost of production for month: Materials Labor Factory overhead Total cost to be accounted for Unit output for month: Finished and transferred to stockroom during month Equivalent units of work in process, end of month Total equivalent production Unit cost for month: Cost from prior department: Beginning inventory Transferred in this month Average cost per unit Cost in Assembly: Materials Labor Factory overhead Total Inventory costs: .

1. Hilton Products manufactures one product in two departments
on a continuous basis and uses the average method of process
cost accounting.
The following information was reported for the month of May.
Hilton Products manufactures one product in two departments
on a continuous basis and uses the average method of process
cost accounting.
The following information was reported for the month of May.
Production Costs

2. Machining
Assembly
Work in process, beginning of month:
$
-
$
27,000
Cost in Machining
Materials
$
4,000

3. $
800
Labor
3,000
400
Factory overhead
2,000
$
9,000
600
$
1,800
Cost incurred during month:

4. Materials
$
68,000
$
44,000
Labor
51,000
22,000
Factory overhead
34,000
153,000
33,000
99,000

5. Total
$
162,000
$
127,800
Production Costs
Machining

6. Assembly
(Units)
(Units)
In process, beginning of month
1,000
1,000
Finished and transferred during month
5,000
4,000
In process, end of month
2,000
2,000
Stage of completion as to materials, labor, overhead
One-half
One-half

7. Requirements:
Prepare a cost of production summary for each department for
the month.
Berg Products

8. Cost of Production Summary—Machining
For the Month Ended May 31, 2011
Cost of work in process, beginning of month:
Materials

9. Labor
Factory overhead
Cost of production for month:
Materials
Labor

10. Factory overhead
Total costs to be accounted for
Unit output for month:
Finished and transferred to Assembly during month
Equivalent units of WIP, end of month

11. Total equivalent production
Unit cost for month:
Materials
Labor
Factory overhead

12. Total
Inventory costs:
Cost of goods finished & transferred to Assembly during month
Cost of work in process, end of month:
Materials

13. Labor
Factory overhead
Total production costs accounted for

14. Berg Products
Cost of Production Summary—Assembly
For the Month Ended May 31, 2008
Cost of work in process, beginning of month:

15. Cost in Machining
Cost in Assembly:
Materials
Labor

16. Factory overhead
Cost of goods received from Machining during month
Cost of production for month:
Materials

17. Labor
Factory overhead
Total cost to be accounted for
Unit output for month:

18. Finished and transferred to stockroom during month
Equivalent units of work in process, end of month
Total equivalent production
Unit cost for month:
Cost from prior department:
Beginning inventory

19. Transferred in this month
Average cost per unit
Cost in Assembly:
Materials
Labor

20. Factory overhead
Total
Inventory costs:
Cost of goods finished and transferred to stockroom during
month:
Cost in Machining

21. Cost in Assembly
Cost of work in process, end of month:
Cost in Machining
Cost in Assembly:
Materials

22. Labor
Factory overhead
Total production costs accounted for