Question

F20 DE 1 Hayword, Inc, uses weighted average costing and has two departments - mixing and packaging 2 The following information relates to work in the mixing department for the month of July: 6011 405 4 Work in process, July 1: 5 Units in process 6 Percent completed with respect to materials 7 Percent completed with respect to conversion 8 Cost in the beginning inventory: 9 Materials cost 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cast 14 Conversion cost 15 Work in process, July 31: 16 Units in process 17 Percent completed with respect to materials 18 Percent completed with respect to conversion $10.500 $6.750 6,200 $332.150 $407,645 450 40% 305 20 Use the data to answer the following. Conversion 22 1. Compute equivalent units. Mixing Department Equivalent Units of Production Materials 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 32 2. Compute cost per equivalent unit. ... Sheet1 ... READY Attempt(s) @ A + + 10% Hint

Answer 1

Solution:

1. Compute Equivalent units.
Mixing Department
Equivalent units of production
	Materials	Conversion
Units transferred to next department	6050	6050
Ending Work in process:
Materials	180
Conversion		135
Equivalent units of production	6230	6185
2. Compute cost per equivalent unit.
Mixing Department
Cost per Equivalent unit
	Materials	Conversion
Cost of beginning work in process	10500	6750
Cost added during the period	332150	407645
Total cost	342650	414395
Equivalent units of production	6230	6185
Cost per Equivalent unit	55.00	67.00
3. Assign costs.
Mixing Department
Costs of ending work in process inventory and the units transferred out
	Materials	Conversion	Total
Ending Work in process inventory:
Equivalent units of production	180	135
Cost per Equivalent unit	55.00000	67.00000
Cost of Ending Work in process inventory	9900	9045	18945
Units completed and transferred out:
Units transferred to next department	6050	6050
Cost per Equivalent unit	55.00000	67.00000
Cost of Units transferred out	332750	405350	738100
4. Prepare Reconciliation.
Mixing Department
Cost reconciliation
Costs to be accounted for:
Cost of Beginning Work in process inventory	17250
Cost added to production during the period	739795
Total cost to be accounted for	757045
Costs accounted for as follows:
Cost of Ending Work in process inventory	18945
Cost of Units transferred out	738100
Total cost accounted for	757045

Excel Poo-2 new - Microsoft Excel 2. General - - Home Insert Page Layout - 7 X File Formulas Dala Review View Define Name Use in Formula- Name Manager Create from Selection Defined Names Trace Precedents Show Formulas Trace Dependents Error Checking Watch Remove Arrows Evaluate Formula Window Formula Auditing Calculate Now Calculation calculate Sheet Options Calculation F 300 0.6 0.4 de Insert AutoSum Recently Financial Logical Text Date & Lookup & Math & More Function Used - - - - Time - Reference Trig Functions Function Library E26 А 5 Units in process 6 Percent completed with respect to materials 1 Percent completed with respect to conversion 8 Cost in Beginning Inventory: 9 Materials Cost 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost: 14 Conversion Cost 15 Work in process, July 31: 16 Units in process 17 Percent completed with respect to materials 18 Percent completed with respect to conversion 19 20 Use the date to answer the following: 10500 6750 6200 332150 407645 450 0.4 0.3 21 22 1. Compute Equivalent units. 23 Mixine Department Equivalent units of production 24 Materials =B5+B11-B16 Conversion =B5+B11-B16 25 26 Units transferred to next department 27 Ending Work in process: 28 Materials 29 Conversion 30 Equivalent units of production -B16 B17 -B16 B18 =C26+C29 =B26+B28 31 M N Ready Sheet414 Sheet415 Sheet416 Sheet417 Sheet418 Sheet419 Sheet420 Sheet421 Sheet422 Sheet + 1 Type here to search al e o 9 % EN90% 0 08-55 RAI 4x 66. ENG 17-02-20201

Excel Poo-2 new - Microsoft Excel 2. General - - Home Insert Page Layout - 7 X Formulas Dala Review View Calculate Now de Lookup & Math & More Reference Trig Functions Insert Function AutoSum Recently Financial Logical Text Date & Used Time Function Library E56 Define Name Use in Formula Name Manager Create from Selection Defined Names Trace Precedents Show Formulas Trace Dependents Error Chexing Watch Remove Arrows ) Evaluate Formula Window Formula Auditing Calculation calculate Sheet Options Calculation B F 32 2. Compute cost per equivalent unit. 33 34 Mixing Department Cost per Equivalent unit 35 36 Cost of beginning work in process 37 Cost added during the period 38 Total cost 39 Equivalent units of production 40 Cost per Equivalent unit Materials =R9 =B13 -B36+B37 -B30 =B38/B39 Conversion =B10 =B14 -C36C37 -C30 =C38/C39 41 42 3. Assign costs. 44 Mixing Department Costs of ending work in process inventory and the units transferred out Materlals Conversion Total -C29 -B28 -840 =B47*B48 =C47*048 =B49+049 46 Ending Work in process inventory: 47 Equivalent units of production 48 Cost per Equivalent unit 49 Cost of Ending Work in process inventory 50 51 Units completed and transferred out: 52 Units transferred to next department 53 Cost per Equivalent unit 51 Cost of Units transferred out =B26 |=B40 =B52*B53 =C26 -C40 =C52*C53 |=B54+C54 55 56 4. Prepare Reconciliation. 57 ME N Sheet414 Sheet415 Ready Sheet416 Mixing Department Sheet417 Sheet418 Sheet419 Sheet420 Sheet421 Sheet422 Sheet4 + 1 Type here to search Ele O K EO 90% 0 08-55 RAI 4x 66. ENG 17-02-20201

Excel Poo-2 new - Microsoft Excel 2. General - - Home Insert Page Layout - 7 X File Formulas Dala Review View Calculate Now de Lookup & Math & More Reference Trig Functions Insert Function AutoSum Recently Financial Logical Text Date & Used Time Function Library C80 Define Name Use in Formula- Name Manager Create from Selection Defined Names - Trace Precedents Show Formulas Trace Dependents Error Checking Watch Remove Arrows ) Evaluate Formula Window Formula Auditing Calculation calculate Sheet Options Calculation A 56 4. Prepare Reconciliation. 57 Mixing Department Cost reconciliation =R9+B10 =B13+B14 =B60+B61 59 Costs to be accounted for: 60 Cost of Beginning Work in process inventory 61 Cost added to production during the period 62 Total cost to be accounted for 63 Costs accounted for as follows: 64 Cost of Ending Work in process inventory 65 Cost of Units transferred out 66 Total cost accounted for -049 =B64+B65 68 80 81 Sheet414 Sheet415 Sheet416 Sheet417 Sheet418 Sheet419 Sheet420 Sheet421 Sheet422 Sheet4 ► Ready Type here to search ... 08-55 RAI 4x 66. ENG 17-02-20201