Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all the blanks CORRECTLY. Weighted Average Method, Single Department Analysis, Uniform Costs Hatch Company produces a product that passes through three processes: Fabrication,

image text in transcribed

image text in transcribed

image text in transcribed

Please answer all the blanks CORRECTLY.

Weighted Average Method, Single Department Analysis, Uniform Costs Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for June: a. Work in process, June 1 , had 90,000 units (40 percent completed) and the following costs: b. During the month of June, 190,000 units were completed and transferred to the Assembly Department, and the following costs were added to production: c. On June 30 , there were 45,000 partially completed units in process. These units were 80 percent complete. Required: Prepare a cost of production report for the Fabrication Department for June using the weighted average method of costing. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs. Round the cost per equivalent unit to the nearest cent. Hatch Company Fabrication Department Production Report for June Unit Information Units to account for: Units, beginning work in process Units started Units to account for Units accounted for: Units completed Units, ending work in process Total units accounted for Cost Information Costs to account for: Manufacturing Costs Costs, beginning work in process Costs added by department Total costs to account for Cost per equivalent unit Cost Information Costs to account for: Manufacturing Costs Costs, beginning work in process Costs added by department Total costs to account for Cost per equivalent unit Costs accounted for: Units completed Units, ending work in process Total costs accounted for

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Principles V4 0 And AME Engage

Authors: Joffe Parker

4th Edition

1926751728, 978-1926751726

More Books

Students also viewed these Accounting questions

Question

Why could the Robert Bosch approach make sense to the company?

Answered: 1 week ago