Question

please answer in yellow box and enter Excel formulas.

1. Compute the equivalent units of production using the weighted-average method 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted average method 4. Prepare a cost reconciliation report 5. FILE Process Costing using the Weighted-Average Method - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW HOME INSERT Sign In -11AA2 Paste B I U A Alignment Number Conditional Format as Cell Formatting Table Styles ipboard B26 B 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: 4 Work in process, July 1: Units in process Percent completed with respect to materials Percent completed with respect to conversion Cost in the beginning inventory: Materials cost 300 60% 40% $10,500

Answer 1

А E 300 60% 40% 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 Material Cost 10 Conversion Cost 11 Units started into production during the period 12 Costs added to production during the period 13 Material 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 10500 6750 6200 332150 407645 450 40% 30%

Materials 6050 Conversion 6050 B5+B11-B16 180 135 B16*B18 6185 C26+C29 6230 22 1. Compute Equivalent Units 23 Mixing Department 24 Equivalent Units of Production 25 26 Units transferred to the next department (B5+B11-B16) 27 Ending Work in Process 28 Materials (B16*B17) 29 Conversion 30 Equivalent Units of Production (B26+B28) 31 32 2. Compute Cost per equivalent unit Mixing Department 34 Cost per Equivalent Unit 35 36 Cost in the beginning work in Process (B9) 37 Costs added during the period (B13) 38 Total Cost (B36+B37) 39 Equivalent Units of Production (B30) 40 Cost Per Equivalent Unit (B38/B39) 41 33 Materials 10500 332150 342650 6230 55 Conversion 6750 B10 407645 B14 414395 C36+037 6185 C30 67 C38/C39

Total C29 C40 18945 B49+049 67 42 3. Assign Costs 43 Mixing Department 44 Costs of Ending Work in Process Inventory and Units transferred out 45 Materials Conversion 46 Ending Work in Process Inventory 47 Equivalent Units of Production (328) 180 135 48 Cost Per Equivalent Unit (B40) 55 67 49 Cost of Ending Work in Process Inventory 9900 9045 50 B47*B48 047*C48 51 Units Completed and Transferred out; 52 Units transferred to the next department (B26) 6050 6050 53 Cost Per Equivalent Unit (B40) 55 54 Cost of units transferred out 332750 405350 55 B52*B53 C52*C53 56 4. Prepare Reconciliation 57 Mixing Department 58 Cost Reconciliation 59 Costs to be accounted for; 60 Cost in the beginning work in Process Inventory B9+B10 17250 61 Costs added to production during the period B13+B14 739795 62 Total Costs to be accounted for B60+B61 757045 Costs accounted for as follows; 64 Cost of Ending Work in Process Inventory D49 18945 65 Cost of units transferred out D54 738100 66 Total Costs accounted for B64+B65 757045 C26 040 738100