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Enter as formula 1. Compute the equivalent units of production using the weighted-average method. 2. Compute the cost per equivalent unit using the weighted-average method.
Enter as formula
1. Compute the equivalent units of production using the weighted-average method. 2. Compute the cost per equivalent unit using the weighted-average method. 3. Assign costs to units using the weighted-average method. 4. Prepare a cost reconciliation report. 22 1. Compute equivalent units. 23 Mixing Department 24 Equivalent Units of Production 25 Materials Conversion 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 31 32 2. Compute cost per equivalent unit. 33 Mixing Department 34 Cost per Equivalent Unit 35 36 Cost of beginning work in process Materials Conversion 37 Cost added during the period Total cost Equivalent units of production Cost per equivalent unit 3. Assign costs. Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Total Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory Units completed and transferred out: Units transferred to the next department Cost per equivalent unit Cost of units transferred out 4. Prepare reconciliation. Mixing Department Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the period Total cost to be accounted for Costs accounted for as follows: Cost of ending work in process inventory Cost of units transferred out Total cost accounted for Step by Step Solution
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