Bagger Inc uses a process costing system The following operating and cost

Question

Bagger, Inc. uses a process costing system. The following operating and cost data occurred during October:

October 1, Inventory:		30,000 units
		100% complete for materials
		($60,000) and 50% complete
		for direct labor ($7,500) and
		overhead ($15,000)

October 31, Inventory:		20,000 units
		100% complete for materials
		and 30% complete for
		direct labor and overhead

Units started during Oct.:	40,000 units

October production costs:	Direct materials		$110,100
	Direct labor		28,900
	Overhead		57,800

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.