Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 16-6A (Part Level Submission) Hamilton Processing Company uses a weighted-average process cost system and manufactures a single product-an industrial carpet shampoo and cleaner used
Problem 16-6A (Part Level Submission) Hamilton Processing Company uses a weighted-average process cost system and manufactures 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 production cost report for the month of October for the Mixing and Cooking department is as follows ? (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. (Round unit costs to 2 decimal places, e.g. 2.25.) HAMILTON PROCESSING COMPANY Mixing and Cooking Department Production Cost Report For the Month Ended October 31 Equivalent Units Physical Units Conversion Costs Quantities Materials Units to be accounted for Work in process, October 1 (all materials, 70% conversion costs) Started into production 21,000 157,500 178,500 Total units Units accounted for 126,000 52,500 178,500 Transferred out Work in process, October 31 (60% materials, 40% conversion costs) Total units accounted for Conversion Costs Costs Materials Total Unit costs Total Costs $252,000 $110,250 $362,250 Equivalent units Unit costs Costs to e accounted for Work in process, October 1 Started into production $31,500 330,750 $362,250 Total costs
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started