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. All answers must be entered as a formula. Click OK to begin. Materials Conversion Cost of beginning work in process Cost added during the period Total cost Equivalent units of production Cost per equivalent unit Total 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 A A1 Hayword, Inc. uses weighted average costing and has two departments - mixing Name Box B D E 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: 3 4 Work in process, July 1: 5 Units in process 300 6 Percent completed with respect to materials 60% 7 Percent completed with respect to conversion 40% 8 Cost in the beginning inventory: 9 Materials cost $10,500 10 Conversion cost $6,750 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 $407,645 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. 23 Mixing Department 24 Equivalent Units of Production Sheet1 Conversion 1. Compute equivalent units. Mixing Department Equivalent Units of Production Materials Jnits transferred to the next department Ending work in process: Materials Conversion Equivalent units of production Conversion 2. Compute cost per equivalent unit. Mixing Department Cost per Equivalent Unit Materials Cost of beginning work in process Cost added during the period Total cost Equivalent units of production Cost per equivalent unit Mixing Department 58 Cost Reconciliation 59 Costs to be accounted for: 60 Cost of beginning work in process inventory 61 Costs added to production during the period 62 Total cost to be accounted for 63 Costs accounted for as follows: 64 Cost of ending work in process inventory 65 Cost of units transferred out 66 Total cost accounted for 67 68 69 70