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. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.)
HAMILTON PROCESSING COMPANY Mixing and Cooking Department Production Cost Report For the Month Ended October 31 | ||||||||
Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
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 | |||||||
Costs | Materials | Conversion Costs | 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 |
eTextbook and Media
Complete the Cost Reconciliation Schedule part of the production cost report.
Cost Reconciliation Schedule | ||
Costs accounted for | ||
Transferred out | $ | |
Work in process, October 31 | ||
Materials | $ | |
Conversion costs | ||
Total costs | $ |
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