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please solve all of them and send me. thanks a lot Payson Company produces a product that passes throug two departments: Mixing and Cooking. Both
please solve all of them and send me. thanks a lot
Payson Company produces a product that passes throug two departments: Mixing and Cooking. Both departments use the weighted average method, In the Mixing Department; all direct materials are added at the beginning of the process. All other manufacturing inputs are added uniformly. Payson uses the weighted average method. The following information pertains to the Mixing Department for February Beginning work in process (BWIP), February 1: 100.000 pounds, 100 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. The costs assigned to this work are as follows: Direct materials Direct labor Overhead 20.000 10.000 30.000 b-Ending work in process (EWIP), February 28: 50.000 pounds, 100 percent complete with respect to direct materials an 60 percent complete with respect to conversion costs. c Units completed and transferred out: 370.000 pounds. The following costs were added during the month: Direct materials 211.000 Direct labor 100.000 Overhead 270.000 Required: 1- Prepare a physical flow schedule 2- Prepare a schedule of equivalent units 3- Compute the cost per equivalent unit 4. Compute the cost of goods transferred out and the cost of ending work in process 5. Prepare a cost reconciliation 6 Repeat Requirements 2-4 using the FIFO method 37/62 DM CONVERSION BWIP 700 %100, %40 --- 420 STARTED 17200 17200 17200 EWIP 400 50, %25 200 100 17400 17720 Unit Cost: DM: 243600/17400 = 14 Conversion Cost - 708800/ 17720 - 40 TOTAL - 54 BWIP 14735 DM Conversion Started and completed 420*40 - 17200 * 54- 16800 +14735 = 31535 928800+ 31535- 960335 (completed and transferred) EWIP DM Conversion 200 - 14 = 100 * 40 = 2800 4000 6800 TOTAL Transferred Units 31535+928800+6800- 967135/17900 967135 365 5 12/62 TP1 BWIP 700 COMPLETION DEGREES DM 100 CONV. 40 UNITS COMPLETED 17,900 EWIP 400 COMPLETION DEGREES DM 50 CONV. 25 P2 P1 P2 500 COST BWIP 14,735 29,750 25 DM 243,600 473,200 10 CONV. 708,800 384,090 18,100 TOTAL 967,135 887,040 300 75 80 11/62Step by Step Solution
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