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Jacob Industries uses a weighted average process costing system to account for costs in its 3 production departments - Mixing Department, Molding Department, and Packaging
Jacob Industries uses a weighted average process costing system to account for costs in its 3 production departments - Mixing Department, Molding Department, and Packaging Department. The following data pertain to the Mixing Department: August 1, 2014 work in process (90% complete with respect to materials: 60% complete with respect to conversion) 1,000 gallons Began into production during August 2014 25,000 gallons Completed and transferred to Molding during Aug, 2014 ??? August 31, 2014 work in process (90% complete with respect to materials: 60% complete with respect to conversion) 1.500 gallons Cost Data: Work in process, August 1, 2014: Materials $4,285 $29,540 Conversion Costs incurred during August, 2014: Materials $50,000 Conversion $100,000 a) Compute the number of equivalent units of production with respect to materials. (2 points) b) Compute the number of equivalent units of production with respect to conversion.(2 points) c) Compute the cost per equivalent unit with respect to materials.(2 points) d) Compute the cost per equivalent unit with respect to conversion (2 points) e) Compute the total cost transferred from the mixing department to the molding department. (1 point) f) Compute the August 31, 2014 work in process balance for the mixing department. (1 point)
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