Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A C 1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. 2 The following information relates to work in the

A C 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 5 Work in process, July 1: Units in process 6 Percent completed with respect to materials 7 Percent completed with respect to conversion 8 Cost in the beginning inventory: 9 Materials cost 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost 15 Work in process, July 31: 16 Units in process 17 18 19 20 Use the data to answer the following. Percent completed with respect to materials Percent completed with respect to conversion 21 22 1. Compute equivalent units. 23 24 READY Attempt(s) Sheet1 Mixing Department Equivalent Units of Production B 300 60% 40% $10,500 $6,750 6,200 $330,912 $406,408 450 40% 30% 4 D E E + 100% Hint
image text in transcribed
image text in transcribed
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: \begin{tabular}{|c|c|c|c|c|c|} \hline 22 & 1. Compute equivalent units. & & & & \\ \hline 23 & \multicolumn{5}{|l|}{ Mixing Department } \\ \hline 24 & \multicolumn{5}{|c|}{ Equivalent Units of Production } \\ \hline 25 & & Materials & Conversion & & \\ \hline 26 & Units transferred to the next department & & & & \\ \hline 27 & Ending work in process: & & & & \\ \hline 28 & Materials & & & & \\ \hline 29 & Conversion & & & & \\ \hline 30 & Equivalent units of production & & & & \\ \hline 31 & & & & & A \\ \hline 32 & 2. Compute cost per equivalent unit. & & & & \\ \hline 33 & Mixing Department & & & & \\ \hline 34 & Cost per Equivalent Un & & & & \\ \hline 35 & & Materials & Conversion & & \\ \hline 36 & Cost of beginning work in process & & & & \\ \hline 37 & Cost added during the period & & & & \\ \hline 38 & Total cost & & & & \\ \hline 39 & Equivalent units of production & & & & \\ \hline 40 & Cost per equivalent unit & & & & \\ \hline 41 & & & & & \\ \hline 42 & 3. Assign costs. & & & & \\ \hline 43 & Mixing Depa & urtment & & & \\ \hline 44 & Costs of Ending Work in Process Invent & tory and the Un & s Transferred O & & \\ \hline & & Materials & Conversion & Total & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Art And Science Of Assurance Engagements

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones

15th Canadian Edition

0136692087, 9780136692089

More Books

Students also viewed these Accounting questions