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Please answer Instructions a. and b. Thanks :) Compleqvent it and complete production cat port 121.6A (LO3, 4) Hamilton Processing Company uses a weighted average

Please answer Instructions a. and b. Thanks :) image text in transcribed
Compleqvent it and complete production cat port 121.6A (LO3, 4) Hamilton Processing Company uses a weighted average process cost system and man ufactures a single product-an industrial carpet shampoo and cleaner used by many universities. The manufacturing activity for the month of October has just been completed. A partially completed produc. tion cost report for the month of Octobet for the Mixing and Cooking Department is shown as follows. Hamilton Processing Company Mixing and Cooking Department Production Cost Report For the Month Ended October 31 Equivalent Units Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, October 1 (all materials, 70% conversion costs) 20,000 Started into production 150,000 Total units 170,000 Units accounted for Transferred out 120,000 Work in process, October 31 (60% materials, 40% conversion costs) 50,000 Total units accounted for 170.000 7 Costs Unit costs Materials $240,000 Conversion Costs $105.000 Total $345.000 . 2 $ 2 Total cost Equivalent units Unit costs Costs to be accounted for Work in process, October Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, October 31 Materials Conversion costs Total costs $ 30,000 315.000 $345.000 $ 2 $ 7 $1.60 Instructions a. Prepare a schedule that shows how the equivalent units were computed so that you can complete the "Quantities: Units accounted for equivalent units section shown in the production cost report, and compute October unit costs. b. Complete the "Cost Reconciliation Schedule part of the production cost report. a. Materials b. Transferred out WIP $262.000 $ 63,000

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