Hamilton Processing Company uses a weighted-average process cost system and manufactures a single product—a premium rug shampoo and cleaner. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the Mixing and Cooking Department is shown on the next page.
Instructions

(a) Prepare a schedule that shows how the equivalent units were computed so that you can complete the “Quantities: Units accounted for” equivalent units section shown in the production cost report, and compute October unit costs.

(b) Complete the “Cost Reconciliation Schedule” part of the production cost report below.

HAMILTON PROCESSING COMPANY Mixing and Cooking Department Production Cost Report For the Month Ended October 31 Equivalent Units Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, October 1 (all materials, 70%
conversion costs) 20,000 Started into production 150,000 Total units 170,000 Units accounted for Transferred out 120,000 ? ?
Work in process, October 31 (60% materials, 40%
conversion costs) 50,000 ? ?
Total units accounted for 170,000 ? ?
Costs Unit costs Conversion Materials Costs Total Total cost $240,000 $105,000 $345,000 Equivalent units ? ?
Unit costs $ ? 1 $ ? 5 $ ?
Costs to be accounted for Work in process, October 1 $ 30,000 Started into production 315,000 Total costs $345,000 Cost Reconciliation Schedule Costs accounted for Transferred out $ ?
Work in process, October 31 Materials $ ?
Conversion costs ? ?
Total costs $ ?