Arsenio Company manufactures a single product that goes through two processes, mixing and cooking. The following data
Question:
Arsenio Company manufactures a single product that goes through two processes, mixing and cooking. The following data pertain to the mixing department for August:
Work-in-process inventory, August 1 | |||
Conversion: 80% complete | 34,000 | units | |
Work-in-process inventory, August 31 | |||
Conversion: 50% complete | 30,000 | units | |
Units started | 66,000 | ||
Units completed and transferred out | ? | ||
Costs | |||
Work-in-process inventory, August 1 | |||
Material X | $ | 64,800 | |
Material Y | 88,100 | ||
Conversion | 119,880 | ||
Costs added during August | |||
Material X | 152,700 | ||
Material Y | 135,900 | ||
Conversion | 305,120 | ||
Material X is added at the beginning of work in the mixing department. Material Y is also added in the mixing department, but not until units are 60% complete with regard to conversion. Conversion costs are incurred uniformly during the process. The company uses the weighted-average cost method.
Required:
1. & 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 Work-in-Process Inventory.
1&2
Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department. (Round "Cost per Equivalent Unit" answers to 2 decimal places.)
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3.Calculate the cost of units transferred out. (Do not round intermediate calculations.)
4.Calculate the cost of the ending Work-in-Process Inventory. (Do not round intermediate calculations.)