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Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into
Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into the process in the Mixing Department. The cost of the material fluctuates significantly month to month based on market conditions. Information on costs and operations in the Refining Department for September follow:
WIP inventoryRefining
Beginning inventory
units, complete with respect to Refining costs
Transferredin costs from Mixing
Refining conversion costs
Current work units started
Mixing costs $
Refining costs
$
The ending inventory has units, which are percent complete with respect to Refining Department costs.
Required:
Complete the production cost report using the weightedaverage method.
Note: Round "Cost per equivalent unit" to decimal places.
tabletablePhysicalUnitsEquivalent UnitstableMixingDepartmenttableRefiningDepartmentFlow of units:,,,Units to be accounted for:,,,Beginning WIP inventory,,,Units started this period,,,Total units to account for,Units accounted for:,,,Completed and transferred out,,,Units in ending inventory,,,MixingRefiningTotal units accounted for,Total,tableMixingDepartmenttableRefiningDepartmentFlow of costs:,,,Costs to be accounted for:,,,Costs in beginning WIP inventory,,,Current period costs,,,Total costs to be accounted for,$$$
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