Don’t Cry Over Spilled Milk,
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Don't Cry Over Spilled Milk, Inc., a manufacturer of mops, uses the weighted average method in its processing costing system. Don't Cry uses a traditional costing system in the allocation of its manufacturing overhead (MOH) to production; MOH costs are allocated to production on the basis of machine hours logged during the period. Total estimated MOH for the period was $500,000 and total estimated machine hours were 100,000. The following data concern the operations of the company's first processing department, Assembly, for June 2012.
Beginning Work in Process 800 mops, 60% complete with respect to direct materials, 10% complete with respect to conversion
Costs in Beginning Work in Process $3,712 (of this amount, $1,296 is for direct materials)
Units Started in June 16,000 mops
Direct Product Costs Added During June direct materials $47,076; direct labor $216,213
Ending Work in Process 300 mops, 60% completed with respect to direct materials, 70% complete with respect to conversion
During June, 79,560 actual machine hours were logged during production.