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: 40,000

image text in transcribedimage 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: 40,000 units 30,000 units 60,000 Work-in-process inventory, August 1 Conversion: 70% complete Work-in-process inventory, August 31 Conversion: 50% complete Units started Units completed and transferred out Costs Work-in-process inventory, August 1 Material x Material Y Conversion Costs added during August Material x Material Y Conversion $ 57,500 86,200 118,210 155,900 158,800 136,790 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 80% 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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 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.) Material X Material Y Conversion Equivalent Units Cost per Equivalent Unit Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Calculate the cost of units transferred out. (Do not round intermediate calculations.) Cost of Units Transferred Out Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 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

The Next Step Advanced Medical Coding And Auditing 2013

Authors: Carol J. Buck MS CPC CCS-P

1st Edition

1455744859, 978-1455744855

More Books

Students also viewed these Accounting questions