1 Problem 3B 2 Cannery Row produces condensed tomato soup using two processes: mixing and canning. 3 The company's accountant has produced the following process costing data for February 20YY: 4 5 Cannery Row - Process costing data for February 20YY Mixing Dept. Canning Dept. 6 7 Units information (i.e. gallons of product) 8 Beginning Work in progress (WIP) (in gallons) 9 Units started in production this month (in gallons) 10 Units/gallons completed & transferred out during the month 11 Completion percentage at end of month: 12 Ending WIP, direct materials added (%) 13 Ending WIP, conversion work performed (%) 14 15 Costs Information 16 Beginning WIP, costs added in prior periods: 17 Direct materials 18 Conversion cost: direct labor 19 Conversion cost: overhead applied 20 Transferred in costs 21 Costs added to process in February 20YY: 22 Direct materials 23 Conversion cost: direct labor 24 Conversion cost: overhead applied 25 26 Required: 1,000 23,000 See Mixing 2,000 20,000 13,500 50% 10% 25% 75% $ $ 12,000 9,250 10,000 12,125 16,000 40,000 N/A 33,000 98,000 62,500 25,000 20,000 75,000 67,000 D E F G 27 Using the weighted average method and the template below, 28 prepare the process costing report for the Mixing Department for February 20YY. 29 30 31 32 33 Units Cannery Row: Canning Dept Process Costing Report for February 20YY - Weighted Average Total Percentage completed Transferred-in-costs DM CC Equivalent units Transferred-in-costs DM CC 34 Beginning WIP inventory 35 Units started 36 Units to account for 37 Units completed and transferred out 38 Ending WIP inventory 39 Units accounted for 40 41 Costs 42 Beginning WIP inventory 43 Costs added this month 44 Total costs in process 45 Cost per EQ unit ($) 46 47 Cost assignment 48 Units completed 49 Ending WIP inventory so Total costs 51 52 Total $ $ $ $