Question

Calibri 11 1 Paste BIU- - A % A Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font A1 X Hayword, Inc. uses weighted average costing and has two departments - mixing 5 aints A D E 6 eBook 7 References B Percent completed with respect to materials 60% Percent completed with respect to conversion 40% 8 Cost in the beginning inventory: 9 Materials cost $10,500 10 Conversion cost S6,750 11 Units started into production during the period 6,200 12 Costs added to production during the period: 13 Materials cost $332,150 14 Conversion cost S407,645 15 Work in process, July 31: 16 Units in process 450 17 Percent completed with respect to materials 40% 18 Percent completed with respect to conversion 30% 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. Mixing Department Equivalent Units of Production 23 24

Answer 1

. A B с D E F G Cell reference is given in blue column use = sign before these to get the answer 20 21 22 23 Compute Equivalent units 24 Equivalent units of production Material 6050 Conversion 6050 Formula Material Conversion B5+B11-B16 +- B5+B11-B16 25 26 27 28 29 30 Units transferred to the next department Ending Work in process: Material Conversion Equivalent units of production 180 B16*B17 135 6185 B16 B18 C26+C29 6230 B26+B28 31 Compute cost per Equivalent unit. Mixing Department Cost per Equivalent units 32 33 34 35 36 37 38 Cost of beginning work in process Cost added during the period Total Cost Equivalent units of production Cost per Equivalent units Material $10,500 $332 150 $342.650 6230 $55 Conversion $6,750 $407,645 $414.395 6185 $67 B9 B13 B36+B37 B30 B38/B39 B10 B14 C36+C37 C30 C38/C39 39 40 41 42 43 44 Conversion Total Assign Cost Mixing Department Cost of Ending WIP and the units Transferred out Material Ending Work in process inventory: Equivalent units of production 180 Cost per Equivalent unit $55 Cost of Ending Work in process inventory $9,900 135 $67 $9,045 B28 B40 B47*B48 C29 040 C47°C48 * $18,945 B49+049 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 Units completed and transferred out: Units transferred to next department Cost per Equivalent unit Cost of Units transferred out 6050 $55 $332,750 6050 $67 $405,350 B26 B40 B52*B53 C26 C40 C52c53 $738,100 B54+C54 Prepare Reconciliation Mixing Department Cost Reconciliation Cost to be accounted for: Cost of beginning work in process inventory Cost added to production during the period Total Cost to be accounted for Costs accounted for as follows: Cost of ending work in process inventory Cost of units transferred out Total Cost to be accounted for $17,250 $739,795 $757.045 $ B9+B10 B13+B14 B60+B61 63 64 65 66 $18,945 $738 100 $757.045 D49 054 B64+B65 67 68 69 units transferred out = units in beginning wip + units started units in ending wip =300 + 6200 - 450 = 6050 70 71 72 73 74