Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Firenze, Ic., manufactures a product that goes through two departments prior to completion-the Mixing Department followed by the Packaging Department. The following information is
Firenze, Ic., manufactures a product that goes through two departments prior to completion-the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June. Units 85,000 400,000 Percent Completed Materials Conversion 30% Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June 70% 385,000 100,000 80% 45% $41,200 $368,000 $16,500 $263,000 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the Mixing Department. 2. Compute the costs per equivalent unit for June for the Mixing Department. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the Packaging Department. 4. Prepare a cost reconciliation report for the Mixing Department for June.
Step by Step Solution
★★★★★
3.44 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started