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Jackson Bottling Company has a continuous production process and uses process costing to compute its product costs. The Company has two production departments: Mixing and
Jackson Bottling Company has a continuous production process and uses process costing to compute its product costs. The Company has two production departments: Mixing and Bottling. Data below is for the Mixing Department (the first department) for the month of February. PERCENTAGE COMPLETE COSTS UNITS 2,000 70% 75% $2,450 4,200 32,000 Beginning WIP inventory, Feb. 1 Direct materials Conversion costs Units started in February Costs incurred in February Direct materials Conversion costs Ending WIP inventory, Feb. 28 Direct materials Conversion Costs $42,000 26,800 4,000 60% 80% Required: A. Prepare a Weighted Average Method Production Report for February (7) B. Complete the WIP Inventory T-Account based on your part A. solutions. Hint - Make sure your Transferred-Out Account is accurate and specific to this problem. (3) C. Prepare a FIFO (first-in, first-out) Method Production Report for February (7) D. Complete the WIP Inventory T-Account based on your part C. solutions. Hint - Make sure your Transferred-Out Account is accurate and specific to this problem. (3)
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