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please explain the math behind it Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion The Mixing Department, the first process department, mixes
please explain the math behind it
Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Work in process, January 1 Gallons started 550,000 Gallons transferred out 462,000 Direct materials cost $1,650,000 Direct labor cost $2,129,600 Overhead applied $3,194,400 Direct materials are added at the beginning of the process. Ending inventory is 80 percent complete with respect to direct labor and overhead. Required: Prepare a production report for the Mixing Department for the current year. It an amount is zero, entero Softkin Company Mixing Department Production Report for Current Year Unis Information Units to account for Units in beginning WID Equivalent Units Direct Conversion Materials Costs Physical Flow 462,000 462,000 462,000 Units completed Units in ending WIP 88,000 88,000 70,400 Total units accounted for 550,000 532,400 Work completed 550,000 Cost Information Costs to account for: Total Direct Conversion Materials Costs 0 $ Costs in beginning WIP Costs incurred during the period 1,650,000 $32,400 X 2,182,400 X Total costs to account for 1,650,000 $532,400 X $ 2,182,400X x x $ X $ 10 Cost per equivalent unit Costs accounted for: Units completed Ending work in process xxx Total costs accounted for Step by Step Solution
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