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Exercise 8-41 Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 4) Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting
Exercise 8-41 Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 4) Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department) $ WIP inventory Finishing Beginning inventory (10,400 units, 2056 complele with respect to Finishing costs) Transformed in costs from Mixing) Finishing conversion costs Current work (98.800 units started) Mixing costs Finishing costs 117,520 3,980 908,980 445,984 The ending inventory has 14,400 units, which are 60 porcont complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs Required: Complete the production cost report using the weighted average method. (Round "Cost per equivalent unit" to 2 decimal places.) Physical Units Equivalent Units Mixing Finishing Department Department Flow of units: Units to be accounted for Beginning WIP inventory Units started this period Total units to account for Units ecounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for 0 0 Total Mixing Department Finishing Department Flow of costs: 0 $ 0 $ Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for Cost per equivalent unit Mixing Finishing Costs accounted for: Costs assigned to units transferred out Costs of ending WIP inventory Total costs accounted for $ 0 $ 0 $
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