First-In, First-Out Method; Equivalent Units Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured In gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following Information: Production: Units In process, July 1, 80% complete 130,000 gallons Units completed and transferred out 897,000 gallons Units In process, July 31, 75% complete 104,000 gallons Costs: Work In process, July 1 $156,000 Costs added during July 1,912,950 This Information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and Input your answers In the questions below. X HILL Open spreadsheet Required: 1. Calculate the equivalent units for July. 871,000 equivalents units 2. Calculate the unit cost. Round your answer to the nearest cent. 2.20 v per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. Do not round Intermediate calculations. Round your answers to the nearest dollar. Cost of units transferred out $ 1,900,600 X Ending work in process $Equivalent Units, Unit Cost, Weighted Average Tapyt Inc. manufactures throw rugs. The throw rug department weaves cloth and yarn Into throw rugs of various sizes. Tapyt uses the weighted average method. Materials are added uniformly throughout the weaving process. In August, Tapyt switched from FIFO to the weighted average method. The following data are for the throw rug department for August: Production: Units In process, August 1, 60% complete 60,000 Units completed and transferred out 180,000 Units In process, August 31, 60% complete 60,000 Costs: WIP, August 1 $216,000 Current costs 907,200 Total $1,123,200 Required: 1. Prepare a physical flow analysis for the throw-rug department for August. Tapyt Inc. Physical Flow Analysis For the Month of August Line Item Description Units Units Units to account for: Units In beginning work In process (60% complete) 60,000 V Units started during the period 180,000 Total units to account for 240,000 Units accounted for: Units completed and transferred out: Started and completed 120,000 From beginning work in process 60,000 180,000 Units In ending work In process (60% complete) 60,000 Total units accounted for 240,000 Feedback Check My Work Correct 2. Calculate equivalent units of production for the throw-rug department for August. 216,000 v equivalent units 3. Calculate the unit cost for the throw-rug department for August. Round your answer to the nearest cent. 5.2 v per unit 4. Show that the cost per unit calculated in Requirement 3 Is a weighted average of the FIFO cost per equivalent unit in BWIP and the FIFO cost per equivalent unit for August. If required, round your answers to two decimal places. Hint: The weights are in proportion to the number of units from each source. Equivalent units in beginning work in process 216,000 Prior period unit cost 5.2 X FIFO equivalent units for materials 1,123,201 X FIFO unit cost $ 216,000 X The weighted average unit cost 5.2Production Report, Weighted Average Cochabamba Inc. manufactures chocolate syrup In three departments: Cooking, Mixing, and Bottling. Cochabamba uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.): Production: Units in process, April 1, 60% complete 33,500 Units completed and transferred out 49,000 Units In process, April 30, 20% complete 7,500 Costs: WIP, April 1 $ 85,600 Costs added during April 404,250 Required: Download Excel spreadsheet Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value In Intermediate calculations. Cochabamba Cooking Department Production Report For the Month of April (Weighted Average Method) Unit Information Physical flow: Units to account for: Units In beginning work In process 20,100 X Units started 30,400 X Total units to account for 50,500 X Units accounted for: Units completed 49,000 Units In ending work In process 1,500 X Total units accounted for 50,500 X Equivalent units: Units completed 49,000 Units In ending work In process 1,500 V Total equivalent units 50,500 Cost Information Costs to account for: Costs In beginning work in process 85,600 Costs added by department 404,250 V Total costs to account for 489,850 Cost per equivalent unit 9.7 Transferred Ending Work In Costs accounted for: Out Process Total Goods transferred out 475,300 0 $ 475,300 Goods In ending work in process O V 14,550 14,550 Total costs accounted for 475,300 V $ 14,550 V $ 489,850