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Old Country Links, Inc., produces sausages in three production departments-Mixing, Casing and Curing, and Packaging. In the M

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Solution

Mixing Material Conversion
Equivalent Units of Production                          120                    114                           113

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Mixing Material Conversion
Cost per equivalent Unit $            1,810.00 $         237.00 $             1,110.00

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Mixing Material Conversion cost Total
Ending Inventory $ 14,480 $ 379 $ 888 $ 15,747

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Mixing Material Conversion cost Total
Units Completed and transferred $ 202,720 $ 26,544 $ 124,320 $ 353,584

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Cost Reconciliation
Costs to be accounted for:
Beginning Wip cost $ 16,664
Cost transferred in $ 201,776
Cost incurred during period $ 150,891
Total cost to be accounted for $ 369,331
Costs accounted for as follows:
Cost of Units Transferred Out $ 353,584
Cost of Ending Wip $ 15,747
Total cost accounted for $ 369,331

Working

Statement of Equivalent Units(Weighted average)
Mixing Material Conversion cost
Units Complete % Equivalent units Complete % Equivalent units
Transferred                          112 100%                           112 100%                    112.0 100%               112
Closing WIP                               8 100%                               8 20%                        1.6 10%                    1
Total                          120                           120 Total                    113.6 Total               113

.

Cost per Equivalent Units (Weighted average)
COST Mixing Material Conversion cost TOTAL
Beginning WIP Inventory Cost $          15,424.00 $ 328 $ 912 $ 16,664
Cost incurred during period $      2,01,776.00 $ 26,595 $ 124,296 $ 352,667
Total Cost to be accounted for $ 217,200 $ 26,923 $ 125,208 $ 369,331
Total Equivalent Units                          120                    114                           113
Cost per Equivalent Units $          1,810.000 $       236.998 $          1,110.000

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Statement of cost (Weighted average)
Cost Equivalent Cost/unit Ending WIP Transferred
Units Cost Allocated Units Cost Allocated
Mixing $            1,810.00                        8 $          14,480.00                     112 $ 202,720
Material $ 237.00                        2 $                379.20                     112 $ 26,544
Conversion cost $ 1,110.00                        1 $                888.00                     112 $ 124,320
TOTAL $ 369,331 TOTAL $ 15,747 TOTAL $ 353,584
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