Question

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Answer 1

Answer with working is given below

Format is slightly modified to understand the concept better.

1 Equivalent Units of Production - Weighted Average Method Units % Conversion conversion Equivalent Units- Weighted Average EUP EUP % Materials Materials 100% 100% 6,050 40% 180 30% 6,230 6,185 6,050 Units transferred to next department 6,050 Units in Ending WIP Inventory 450 Equivalent Units of production 135 2 Cost per Equivalent Unit Mixing Department Cost per Equivalent Unit Cost from Beginning WIP Inventory Cost added during the period Total cost Equivalent units of production Cost per equivalent unit Materials $10,500 $332,150 $342,650 6,230 $55.00 Conversion $6,750 $407,645 $414,395 6,185 $67.00 3 Assign cost Mixing Department Costs of Ending Work in process Inventory and the Units Transferred Out Material Conversion Total Ending work in process inventory Equivalent units of production 180 135 Cost per equivalent unit $55.00 $67.00 Cost of ending Work in process inventory 9,900 9,045 $18,945 25 Units completed and transferred out Units transferred to next department Cost per equivalent unit Cost of units transferred out 6,050 $55.00 332,750 6,050 $67.00 405,350 $738,100 4 Prepare Reconciliation Mixing Department Cost Reconciliation Costs to be accounted for Cost of Beginning work in process inventory Costs added to production during the period Total costs accounted for $17,250 $739,795 $757,045 Cost accounted for as follows Cost of ending Work in process inventory Cost of units transferred out Total Cost accounted for $18,945 $738,100 $757,045