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I need the formulas as well for this one. Thanks in advance! 1. Compute the equivalent units of production using the weighted-average method. 2. Compute
I need the formulas as well for this one. Thanks in advance!
1. Compute the equivalent units of production using the weighted-average method. 2. Compute the cost per equivalent unit using the weighted-average method. 3. Assign costs to units using the weighted-average method. 4. Prepare a cost reconciliation report. Process Costing using the Weighted-Average Method - Excel Sign In FILE REVIEW E INSERT PAGE LAYOUT FORMULAS DATA VIEW Calibri 11 Conditional Format as Cell Paste Alignment Number Cells Editing B Formatting Table Styles - Styles Clipboard Font fx A1 Hayword, Inc. uses weighted-average costing and has two departments - mixing B D 1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. 2 The following information relates to work in the mixing department for the month of July: 4 Work in process, July 1: Units in process 300 Percent completed with respect to materials 60% Percent completed with respect to conversion 40% Cost in the beginning inventory: $10,500 $6,750 Materials cost Conversion cost 10 11 Units started into production during the period 6,200 12 Costs added to production during the period: 13 Materials cost $332,150 $407,645 14 Conversion cost 15 Work in process, July 31: fx Hayword, Inc. uses weighted-average costing and has two departments - mixing A1 B D E A 38 Total cost 39 Equivalent units of production 40 Cost per equivalent unit 41 42 3. Assign costs. 43 Mixing Department 44 Costs of Ending Work in Process Inventory and the Units Transferred Out 45 Total Materials Conversion 46 Ending work in process inventory: Equivalent units of production 47 48 Cost per equivalent unit Cost of ending work in process inventory 49 50 51 Units completed and transferred out: Units transferred to the next department 52 Cost per equivalent unit 53 54 Cost of units transferred out 55 56 4. Prepare reconciliation. 57 Mixing Department 58 Cost Reconciliation 59 Costs to be accounted for: Cost of beginning work in process inventory 60 Costs added to production during the period 61 55 56 4. Prepare reconciliation. 57 Mixing Department 58 Cost Reconciliation 59 Costs to be accounted for: Cost of beginning work in process inventory 60 Costs added to production during the period 61 62 Total cost to be accounted for 63 Costs accounted for as follows: Cost of ending work in process inventory 64 65 Cost of units transferred out 66 Total cost accounted for 67 68 69 70Step by Step Solution
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