Question

Exercise 8-41 Prepare a duction Cost Report: Weighted Average Method (LO 8-2, 4) Yarmouth Company produces a que solvent in two departments Mixing and Fishing Accounting roce ed in the Fishing Department Yarmouth show the following information for wing operations for February in new materiais WIP inventory-Finishing Beginning inventory (11.000 units, 20% complete with respect to Finishing costs) Transferred-incontro Mixing) Fing conversion Current work (101800 t red) $ Fig boss The ending inventory has 15.000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Moring Departments

please show work

Answer 1

	A	B	C	D
1		Physical Units	Equivalent Units
2			Mixing Department	Finishing Department
3	Flow of Units:
4	Units to be accounted for:
5	Beginning WIP inventory	11900
6	Units started this period	101800
7	Total units to account for	113700
8	Units accounted for:
9	Completed and transferred out	97800	97800	97800
10	Units in ending inventory	15900
11	Mixing		15900
12	Finishing			9540
13	Total units accounted for	113700	113700	107340
14
15
16		Total	Mixing Department	Finishing Department
17	Flow of Costs:
18	Costs to be accounted for:
19	Costs in beginning WIP inventory	158745	150070	8675
20	Current period costs	1708524	1089260	619264
21	Total costs to be accounted for	1867269	1239330	627939
22	Cost per equivalent unit
23	Mixing		10.9
24	Finishing			5.85
25	Costs accounted for:
26	Costs assigned to units transferred out	1638150	1066020	572130
27	Costs of ending WIP inventory	229119	173310	55809
28	Total costs accounted for	1867269	1239330	627939

Above figures have been calculated in the following manner:

	Physical Units	Equivalent Units
		Mixing Department	Finishing Department
Flow of Units:
Units to be accounted for:
Beginning WIP inventory	11900
Units started this period	101800
Total units to account for	=B5+B6
Units accounted for:
Completed and transferred out	=B7-B10	97800	97800
Units in ending inventory	15900
Mixing		15900
Finishing			=B10*0.6
Total units accounted for	=B9+B10	=C9+C11	=D9+D12
					Total	Mixing Department	Finishing Department
Flow of Costs:
Costs to be accounted for:
Costs in beginning WIP inventory	=D19+C19	150070	8675
Current period costs	=C20+D20	1089260	619264
Total costs to be accounted for	=B19+B20	=C19+C20	=D19+D20
Cost per equivalent unit
Mixing		=C21/C13
Finishing			=D21/D13
Costs accounted for:
Costs assigned to units transferred out	=C26+D26	=C9*C23	=D9*D24
Costs of ending WIP inventory	=C27+D27	=C11*C23	=D12*D24
Total costs accounted for	=B26+B27	=C26+C27	=D26+D27