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28 Sep 2019
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department):
WIP inventoryâFinishing Beginning inventory (10,200 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 113,520 Finishing conversion costs 3,493 Current work (98,400 units started) Mixing costs 885,600 Finishing costs 417,732
The ending inventory has 14,200 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.
Required:
Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
Physical units Equivalent Units Mixing Department Finishing Department Flow of Units: Units to be accounted for: Begginning WIP inventory ? Units started this period ? Total units to account for Units accounted for: Completed and transferred out ? ? ?
Units in ending inventory ? Mixing ? Finishing ? Total units accounted for
Total Mixing Department Finishing Department Flow of costs: Costs to be accounted for: Costs in beginning WIP inventory ? ? ? Current period costs ? ? ? Total costs to be accounted for Cost per equivalent unit Mixing ? Finishing ? Cost accounted for: Costs assigned to units transferred out ? ? ? Costs of ending WIP inventory ? ? ? Total cost accounted for
*Only in the question marks belong the answers.*
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department):
WIP inventoryâFinishing | ||
Beginning inventory (10,200 units, 20% complete with respect to Finishing costs) | ||
Transferred-in costs (from Mixing) | $ | 113,520 |
Finishing conversion costs | 3,493 | |
Current work (98,400 units started) | ||
Mixing costs | 885,600 | |
Finishing costs | 417,732 | |
The ending inventory has 14,200 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.
Required:
Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
Physical units | Equivalent Units | ||
Mixing Department | Finishing Department | ||
Flow of Units: | |||
Units to be accounted for: | |||
Begginning WIP inventory | ? | ||
Units started this period | ? | ||
Total units to account for | |||
Units accounted for: | |||
Completed and transferred out | ? | ? | ? |
Units in ending inventory | ? | ||
Mixing | ? | ||
Finishing | ? | ||
Total units accounted for |
Total | Mixing Department | Finishing Department | |
Flow of costs: | |||
Costs to be accounted for: | |||
Costs in beginning WIP inventory | ? | ? | ? |
Current period costs | ? | ? | ? |
Total costs to be accounted for | |||
Cost per equivalent unit | |||
Mixing | ? | ||
Finishing | ? | ||
Cost accounted for: | |||
Costs assigned to units transferred out | ? | ? | ? |
Costs of ending WIP inventory | ? | ? | ? |
Total cost accounted for |
*Only in the question marks belong the answers.*
Casey DurganLv2
28 Sep 2019