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Need the FUNCTIONS/FORMULAS for the answer cells(yellow cells) 1. Compute the equivalent units of production using the welghted average method. 2. Compute the cost per
Need the FUNCTIONS/FORMULAS for the answer cells(yellow cells)
1. Compute the equivalent units of production using the welghted average method. 2. Compute the cost per equivalent unit using the welghted-average method. 3. Assign costs to units using the welghted-average method. 4. Prepare a cost reconciliation report. A D E 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: 3 4 Work in process, July 1: 5 Units in process 300 6 Percent completed with respect to materials 60% 7 Percent completed with respect to conversion 40% 8 Cost in the beginning inventory: 9 Materials cost $10,500 10 Conversion cost $6,750 11 Units started into production during the period 6,200 12 Costs added to production during the period: 13 Materials cost $332,150 14 Conversion cost $407,645 15 Work in process, July 31: 16 Units in process 450 17 Percent completed with respect to materials 40% 18 Percent completed with respect to conversion 30% 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. 23 Mixing Department 24 Equivalent Units of Production Sheet1 D E Conversion 20 Use the data to answer the following. 21 22 1. Compute equivalent units. 23 Mixing Department 24 Equivalent Units of Production 25 Materials 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 31 32 2. Compute cost per equivalent unit. 33 Mixing Department 34 Cost per Equivalent Unit 35 Materials Cost of beginning work in process 37 Cost added during the period 38 Total cost 39 Equivalent units of production 40 Cost per equivalent unit 41 42 3. Assign costs. 43 Mixing DepartmentStep by Step Solution
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