Question
Calgary Corporation produces a liquid solvent in two departments: Mixing and Finishing. Assume that Calgary Corporation provides you with the following information for Finishing operations
Calgary Corporation produces a liquid solvent in two departments: Mixing and Finishing. Assume that Calgary Corporation provides you with the following information for Finishing operations for November (no new material is added in the Finishing Department):
WIP inventoryFinishing | ||
Beginning inventory (10,000 units,30% complete withrespect to Finishing costs) | ||
Transferred-in costs (from Mixing) | $ | 109,600 |
Finishing conversion costs | 11,006 | |
Current work (98,000 units started) | ||
Mixing costs | 862,400 | |
Finishing costs | 398,594 | |
The ending inventory has 14,000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs. |
Required: |
a | Use a production cost report using theFIFO method.(Round "cost per equivalent unit" to 2 decimal places.) |
b | Use a production cost report using theweighted-average method.(Round "cost per equivalent unit" to 2 decimal places.) |
I want solution within 30 minutes
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