Hayword, Incorporated uses weighted-average costing and has two departments - mixing and packaging. The following information...
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Hayword, Incorporated uses weighted-average costing and has two departments - mixing and packaging. The following information relates to work in the mixing department for the month of July: Work in process, beginning: Units in process Completion with respect to materials Completion with respect to conversion Costs in the beginning inventory: O Materials cost 1 Conversion cost 2 Units started into production during the period 3 Costs added to production during the period: 4 Materials cost 15 Conversion cost 16 Work in process, ending: 17 Units in process Completion with respect to materials Completion with respect to conversion 18 19 20 300 60% 40% $10,500 $6,750 6,200 $332,150 $407,645 450 40% 30% + Required: 2 Use the data to fill in the following information. 3 (Use cells A5 to B19 from the given information to complete this question.) 5 6 1. Compute equivalent units. 7 8 9 30 Units transferred to the next department 31 Ending work in process: 32 Materials 33 34 Equivalent units of production 25 Conversion Mixing Department Costs per Equivalent Unit Materials Conversion 2. Compute costs. Mixing Department Costs per Equivalent Unit Cost of beginning work in process inventory Costs added during the period Total cost Equivalent units of production Cost per equivalent unit Materials Conversion 3. Assign costs. Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory Units completed and transferred out: Units transferred to the next department Cost per equivalent unit Cost of units transferred out Total 4. Prepare report. Mixing Department Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory Costs 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 accounted for Hayword, Incorporated uses weighted-average costing and has two departments - mixing and packaging. The following information relates to work in the mixing department for the month of July: Work in process, beginning: Units in process Completion with respect to materials Completion with respect to conversion Costs in the beginning inventory: O Materials cost 1 Conversion cost 2 Units started into production during the period 3 Costs added to production during the period: 4 Materials cost 15 Conversion cost 16 Work in process, ending: 17 Units in process Completion with respect to materials Completion with respect to conversion 18 19 20 300 60% 40% $10,500 $6,750 6,200 $332,150 $407,645 450 40% 30% + Required: 2 Use the data to fill in the following information. 3 (Use cells A5 to B19 from the given information to complete this question.) 5 6 1. Compute equivalent units. 7 8 9 30 Units transferred to the next department 31 Ending work in process: 32 Materials 33 34 Equivalent units of production 25 Conversion Mixing Department Costs per Equivalent Unit Materials Conversion 2. Compute costs. Mixing Department Costs per Equivalent Unit Cost of beginning work in process inventory Costs added during the period Total cost Equivalent units of production Cost per equivalent unit Materials Conversion 3. Assign costs. Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory Units completed and transferred out: Units transferred to the next department Cost per equivalent unit Cost of units transferred out Total 4. Prepare report. Mixing Department Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory Costs 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 accounted for
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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