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Howell Food Products (HFP) produces the most popular of its canned soup varletles at the Stadlum Plant. The Stadium Plant has two departments: MixIng and
Howell Food Products (HFP) produces the most popular of its canned soup varletles at the Stadlum Plant. The Stadium Plant has two departments: MixIng and Canning. Raw materlals are added at two points in the production of the soup. First, vegetables are added at the beginning of production In the MixIng Department. After the process is 30 percent complete with respect to conversion, a unique broth is added to the vegetable-water mix. Once the soup is mlxed, It is transferred to the Canning Department for cookIng and packaging. The following Information is avallable from the Stadlum Plant for October. (No new materlal is added In the Canning Department.) Canning Department Production and Costs: October Beginning imventory (125, 890 units, 66% complete with respect to Canning Departnent costs) Total (Mixing and Canning Departnents) cost: Beginning inventory $241,212 Current work (1,225,690 units started) Mixing Department costs $1,724,800 Canning Department costs 766,988 The ending Irventory has 175,000 units, which are 100 percent complete for Mixing Department costs. Required: a-1. Assume that the Canning Department uses welghted-average process costing. The cost per equlvalent unlt for October for materlals (transferred In from the Mixing Plant) In the Canning Department is $1.44 and for converslon costs it is $0.60. Prepare a production cost report for October. a-2 Assume that the Canning Department uses weighted-average process costing. The cost per equlvalent unit for October for materlals (transferred In from the Mixing Plant) In the Canning Department is $1.44 and for corverslon costs it is $0.60. How complete Is ending Inventory with respect to converslon cost? b. What is the cost of product transferred out of the Canning Department for October? c. What Is the cost of ending Inventory In the Canning Department for October? Complete this question by entering your answers in the tabs below. Assume that the Canning Department uses weighted-average process costing. The cost per equivalent unit for October for materials (transferred in from the Mixing Plant) in the Canning Department is $1.44 and for conversion costs it is $0.60. Prepare a production cost report for October. Note: Round "Cost per equivalent unit" to 2 decimal places
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