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 |
please show work Exercise 8-41 Prepare a duction Cost Report: Weighted Average Method (LO 8-2, 4)...
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 inventory—Finishing Beginning inventory (10,700 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 123,670 Finishing conversion costs 8,003 Current work (99,400 units started) Mixing costs 944,300 Finishing costs 472,867 The ending inventory has 14,700 units, which are 50 percent complete with...
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 inventory—Finishing Beginning inventory (11,200 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 134,320 Finishing conversion costs 1,096 Current work (100,400 units started) Mixing costs 1,004,000 Finishing costs 537,056 The ending inventory has 15,200 units, which are 60 percent complete with...
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 inventory-Finishing Beginning inventory (11,100 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (100,200 units started) Mixing costs Finishing costs 132,150 3,022 991,980 517,803 The ending inventory has 15,100 units, which are 50 percent complete with...
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 inventory—Finishing
Beginning inventory (10,700 units, 20% complete with respect to
Finishing costs)
Transferred-in costs (from Mixing)
$
123,670
Finishing conversion costs
8,003
Current work (99,400 units started)
Mixing costs
944,300
Finishing costs
472,867
The ending inventory has 14,700 units, which are 50 percent
complete with...
Exercise 8-42 (Algo) Prepare a Production Cost Report:
Weighted-Average Method (LO 8-2, 3, 4, 6)
Lansing, Inc. provides the following information for one of its
department’s operations for June (no new material is added in
Department T).
WIP inventory—Department T
Beginning inventory ((8,100 units, 20% complete with respect to
Department T costs)
Transferred-in costs (from Department S)
$
34,580
Department T conversion costs
7,974
Current work (18,700 units started)
Prior department costs
86,020
Department T costs
155,610
The ending inventory...
Exercise 8-41 (Static) Prepare a Production Cost Report: FIFO Method (LO 8-2, 4, 5) Lansing, Inc. provides the following information for one of its department’s operations for June (no new material is added in Department T). WIP inventory—Department T Beginning inventory (15,000 units, 60% complete with respect to Department T costs) Transferred-in costs (from Department S) $ 116,000 Department T conversion costs 53,150 Current work (35,000 units started) Prior department costs 280,000 Department T costs 209,050 The ending inventory has...
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 inventory---Finishing Beginning inventory (11,500 units, 25% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 140,950 Finishing conversion costs 5,625 Current work (101,000 units started) Mixing costs 1,040,300 Finishing costs 570,500 The ending inventory has 15,500 units, which are 50 percent complete with...
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 inventory—Finishing
Beginning inventory (10,600 units, 20% complete with respect to
Finishing costs)
Transferred-in costs (from Mixing)
$
121,600
Finishing conversion costs
4,554
Current work (99,200 units started)
Mixing costs
932,480
Finishing costs
468,464
The ending inventory has 14,600 units, which are 60 percent
complete with...
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 inventory-Pinishing Beginning Inventory (10,800 units, 201 complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (99,600 units started) Mixing costs Finishing costs 125,760 5,144 956,160 491. 136 The ending inventory has 14,800 units, which are 60 percent complete...
Exercise 8-41 (Static) Prepare a Production Cost Report: FIFO Method (LO 8-2, 4, 5) Lansing, Inc. provides the following information for one of its department’s operations for June (no new material is added in Department T). WIP inventory—Department T Beginning inventory (15,000 units, 60% complete with respect to Department T costs) Transferred-in costs (from Department S) $ 116,000 Department T conversion costs 53,150 Current work (35,000 units started) Prior department costs 280,000 Department T costs 209,050 The ending inventory has...