Question
Hamilton Processing Company uses a weighted-average process cost system and manufactures a single productan industrial carpet shampoo and cleaner used by many universities. The manufacturing
Hamilton Processing Company uses a weighted-average process cost system and manufactures a single productan industrial carpet shampoo and cleaner used by many universities. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the Mixing and Cooking department is as follows.
Prepare a schedule that shows how the equivalent units were computed so that you can complete the Quantities: Units accounted for equivalent units section shown in the production cost report, and compute October unit costs.
Hamilton Processing Company uses a weighted average process cost system and manufactures a single product-an industrial carpet shampoo and cleaner used by many universities. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the Mixing and Cooking department is as follows. Part 1 Prepare a schedule that shows how the equivalent units were computed so that you can complete the "Quantities: Units accounted for equivalent units section shown in the production cost report, and compute October unit costs. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to decimal places, eg. 125.) HAMILTON PROCESSING COMPANY Mixing and Cooking Department Production Cost Report For the Month Ended October 31 Equivalent Units Physical Units Conversion Costs Quantities Materials Units to be accounted for Work in process, October 1 (all materials, 70% conversion costs) 21,400 Started into production 160,500 Total units 181,900 Units accounted for Transferred out 128,400 Work in process, October 31 (60% materials 40% conversion costs) 53,500 Total units accounted for 181,900 Conversion Costs Costs Materials Total Unit costs Total Costs $256,800 $112,350 $369.150 Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, October 1 $32.100 Started into production 337,050 Total costs $369.150
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