All answers must be entered as a formula. Click OK to begin OK m 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 5 300 60% 40% 4 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 Conversion cost 15 Work in process, July 31: 16 Units in process 17 Percent completed with respect to materials 18 Percent completed with respect to conversion 19 $10,500 $6,750 6,200 $330,912 $406,408 450 40% 30% 19 23 Conversion 20 Use the data to answer the following. 21 22 1. Compute equivalent units. Mixing Department 24 Equivalent Units of Production 25 Materials 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 31 32 2. Compute cost per equivalent unit. 33 Mixing Department 34 Cost per Equivalent Unit 35 Materials 36 Cost of beginning work in process 37 Cost added during the period Conversion Materials Conversion 33 Mixing Department 34 Cost per Equivalent Unit 35 36 Cost of beginning work in process 37 Cost added during the period 38 Total cost 39 Equivalent units of production 40 Cost per equivalent unit 41 45 Total 42 3. Assign costs. 43 Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion 45 Ending work in process inventory: 47 Equivalent units of production 48 Cost per equivalent unit 49 Cost of ending work in process inventory 50 51 Units completed and transferred out: A B 19 D Cost of ending work in process inventory E 50 51 Units completed and transferred out: 52 Units transferred to the next department 53 Cost per equivalent unit 54 Cost of units transferred out 55 56 4. Prepare reconciliation. 57 Mixing Department 58 Cost Reconciliation 59 Costs to be accounted for: 50 Cost of beginning work in process inventory Costs added to production during the period 52 Total cost to be accounted for 53 Costs accounted for as follows: 54 Cost of ending work in process inventory 65 Cost of units transferred out 56 Total cost accounted for 67