Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 3.7 (1&2, 3) Production Cost Report, Missing Data (assic 505 Flooring produces linoleum ooring. Below is a partial production cost report for the Mixing
Problem 3.7 (1&2, 3) Production Cost Report, Missing Data (assic 505 Flooring produces linoleum ooring. Below is a partial production cost report for the Mixing Department. In the report, a unit is a gallon of linoleum cement (a mixture of linseed oil, pine resin, and wood our). Production Cost Report Mixing Department June Quantity Reconciliation Units in beginning WIP 700 Units started 2,700 Units to account for 3,400 Units completed 2,300 Units in ending WIP (100% material, 70% conversion costs) (a) Units accounted for 09 Cost per Equivalent Unit Calculation Material Labor Overhead Total Cost Beginning WIP $ 475 $ 1,200 $ 2,400 $ 4,075 Cost incurred during June 11,080 22,160 37,355 Total $4,590 $12,280 $24,560 $41,430 Units Units completed 2,300 2,300 2,300 Equivalent units, ending WIP (c) (d) (e) Total L J_( ) (h) Cost per equivalent unit (i) (j) (k) (l) Required Fill in the missing data (items a through 1). Round to two decimal places
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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