Chapter 8- PROCESS COSTING Proble oints)- Bas Jackson Bott compute its product costs The followin of February ling Company has a continuous production process and uses process costing to . The Company has two production departments: Mixing and Bottling. g data are available for the Mixing Department (the first department) for the month PERCENTAGE COMPLETE UNITS 22,000 COSTS Beginning WIP inventory, Feb. 1 Direct materials Conversion costs 75% 70% $4,200 2.450 Units started in February Costs incurred in February 12,000 Direct materials Conversion costs $17,000 16,800 Ending WIP inventory, Feb. 286,000 Direct materials Conversion Costs 80% 60% Requireu A. Prepare a production report for February using the Weighted Average Method B. Show the flow of costs through the WIP Inventory T-Account based on part A. Be sure your T-Account is accurate - i.e. don't just copy the one from the template. C. Prepare a production report for February using the FIFO (first-in, first-out) Method D. Show the flow of costs through the WIP Inventory T-Account based on part C. Be sure your T-Account is accurate -i.e. don't just copy the one from the template TEMPLATES: Use the templates that are posted in the Ch8 HW folder on CANVAS (you may have to add the t- accounts for parts B & D to the template). COST PER EQUIVALENT UNIT ROUNDING RULE Round your cost per equivalent unit computations to 4 decimals