Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Arsenio Company manufactures a single product that goes through two processes, mixing and cooking. The following data pertain to the mixing department for August Norkinprocess

image text in transcribedimage text in transcribedimage text in transcribed
Arsenio Company manufactures a single product that goes through two processes, mixing and cooking. The following data pertain to the mixing department for August Norkinprocess inventory, August 1 Conversion: 83% complete 39,333 units Norkinprocess inventory, August 31 Conversion: 53% complete 31,330 units Units started 51,333 Units completed and transferred out ? Costs Nork-in-process inventory, August 1 Material X $ 5?,230 Material Y 84,333 Conversion 119,363 Costs added during August Material X 155,833 Material Y 116,133 Conversion 3?9,193 Material X is added at the beginning ofwork in the mixing department. Material Y is also added in the mixing department, but not until units are I'OS'E complete with regard to conversion. Conversion costs are incurred uniformly during the process. The company uses the weighted-average cost method. Required: 1. Sr 2. Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department. 3. Calculate the cost of units transferred out. 4. Calculate the cost of the ending WorkinProcess Inventory. Complete this queson by entering your answers in the tabs below. Reqland2 Req3 Req4 Calculate the equivalent units and costs per equivalent unit of material X, material 'r', and oonversion for the mixing department. {Round "Cost per Equivalent Unit" answers to 2 decimal places.) Req3 > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Calculate the cost of units transferred out. (Do not round intermediate calculations.) Cost of Units Transferred Out Req 1 and 2 Req 3 Req 4 Calculate the cost of the ending Work-in-Process Inventory. (Do not round intermediate calculations.) Cost of Ending Work-in-Process

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

Step: 3

blur-text-image

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

Financial Accounting Plus

Authors: Robert Libby, Patricia Libby, Daniel Short

7th Edition

0077480015, 9780077480011

More Books

Students also viewed these Accounting questions

Question

What are some tools and techniques for software development?

Answered: 1 week ago

Question

2. What do the others in the network want to achieve?

Answered: 1 week ago

Question

1. What do I want to achieve?

Answered: 1 week ago