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please show formulas 6 ksheet B 1 Hayword, Inc. uses weighted average costing and has two departments - mixing and packaging. 2 The following information
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6 ksheet B 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: 300 5 Units in process 60% Percent completed with respect to materials 40% 7 Percent completed with respect to conversion 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 S332.150 14 Conversion cost $407,645 15 Work in process, July 31: 16 Units in process 450 17 Percent completed with respect to materials 4096 18 Percent completed with respect to conversion 306 19 20 Use the data to answer the following 22 1. Compute equivalent units. 23 Mixing Department Equivalent units of Production Conversion A B 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 36 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 Conversion 42 3. Assign costs. 43 Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Total B D E 44 Total 45 43 Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion 46 Ending work in process inventory: 47 Equivalent units of production 48 Cost per equivalent unit 49 Cost of ending work in process inventory 50 51 Units completed and transferred out: 52 Units transferred to the next department 53 Cost per equivalent unit 54 Cost of units transferred out 55 58 56 4. Prepare reconciliation. 57 Mixing Department Cost Reconciliation 59 Costs to be accounted for: 60 Cost of beginning work in process inventory Costs added to production during the period 62 Total cost to be accounted for 63 Costs accounted for as follows: Cost of ending work in process inventory 65 Cost of units transferred out Total cost accounted for 61 64 66 Step by Step Solution
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