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part2 the first picture contains all the information to do the problem i'm not sure what values you need. Healthy Selections Cereals, Incorporated (HSC) is
part2
the first picture contains all the information to do the problem i'm not sure what values you need.
Healthy Selections Cereals, Incorporated (HSC) is a large food-processing company specializing in whole-grain, high-energy, lowcalorie, and low-fat cereals that appeal to the health-conscious consumer. HSC has a premium image in the market, and most of its customers are loyal and willing to pay a bit extra to get the healthy choice that HSC offers. HSC's cereals are made in a series of processes that begin with sorting, cleaning, preparing, and inspecting the direct materials (grains, nuts, and other ingredients). The materials are then mixed and processed for consistency, cooked, given a final inspection, and packaged. All materials are added only at the beginning of the first process. The inspections in the first and final processes are made at the end of those respective processes, so all direct materials and conversion costs are lost for any defective units defected at the inspection point. The company uses weighted-average process costing and accounts for all waste as normal spollage. Currently, commodity prices are rising sharply, affecting the costs of many of the ingredients in HSC's products. The CFO, noting the sharp rise in the cost of the company's direct materials, has considered using the FiFO method. The following data are for the first process for the current month. All output is measured in pounds. The cost information for the first process is as follows: Required: 1. Prepare a production cost report for the first process using the weighted-average method 2. Prepare a production cost report for the first process using the FIFO method Complete this question by entering your answers in the tabs below. Prepare a production cost report for the first process using the FIFo method. (Round "Cost per Eu" to 4 decimal places. Round your final answers to nearest whole dollar amount. Negative amounts should be indicaked by a minus sign.] \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Healthy Selections Cereals, Inc. (HSC) } \\ \hline \multicolumn{6}{|c|}{ Production Cost Report } \\ \hline & \multicolumn{5}{|c|}{ Production Information } \\ \hline & \multirow[b]{2}{*}{ Physical Units } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Completion Percentage }} & \multicolumn{2}{|c|}{ WA Equir Units } \\ \hline & & & & \begin{tabular}{l} Direct \\ Materials \end{tabular} & Conversion \\ \hline \multicolumn{6}{|l|}{ Input: } \\ \hline \multicolumn{6}{|l|}{ Beginning WIP } \\ \hline Direct materials & & & % & & \\ \hline Conversion & & & % & & \\ \hline \multicolumn{6}{|l|}{ Units started or trans-in } \\ \hline Total to account for & 0 & & & & \\ \hline \multicolumn{6}{|l|}{ Output: } \\ \hline Units finish or trans-out & & & % & & \\ \hline Normal spoilage & & & % & & \\ \hline \multicolumn{6}{|l|}{ Ending WIP } \\ \hline Direct materials & & & % & & \\ \hline Conversion & & & % & & \\ \hline Total accounted for & 0 & & & & \\ \hline Equivalent Units & & & & 0 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Healthy Selections Cereals, Inc. (HSC) } \\ \hline \multicolumn{6}{|c|}{ Production Cost Report } \\ \hline & \multicolumn{5}{|c|}{ Production Information } \\ \hline & & & & \multicolumn{2}{|c|}{ FIFO Equiv Units } \\ \hline & Physical Units & \multicolumn{2}{|c|}{ Completion Percentage } & \begin{tabular}{c} Direct \\ Materials \end{tabular} & Conversion \\ \hline \\ \hline \multicolumn{6}{|l|}{ Beginning WIP } \\ \hline Direct matorials & & & % & & \\ \hline Conversion & & & % & & \\ \hline \multicolumn{6}{|l|}{ Units started or trans in } \\ \hline \multicolumn{6}{|l|}{ Total to account for } \\ \hline \multicolumn{6}{|l|}{ Output: } \\ \hline Units finish or trans-out & 40 & & % & & \\ \hline Normal spoilage & & & % & & \\ \hline \multicolumn{6}{|l|}{ Ending WIP } \\ \hline Direct materials & 8 & & % & & \\ \hline Conversion & & & % & & \\ \hline Total accounted for & 0 & & & & z \\ \hline Equivalent units & & & & 0 & 0 \\ \hline \end{tabular} Step by Step Solution
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