Problem 8-61 (Algo) Prepare a Production Cost Report: Weighted-Average Method, Missing Data (LO 8. 2, 4) Saline Solutions uses process costing to account for production of its unique compound BG at its River Plant. The River Plant has two departments: R and S. Raw materials are added at two points in the production of BG. First, rubber pellets are added at the beginning of production in Department R. Next, aliquid thinner is added in Department Rwhen the product is 70 percent complete with respect to conversion costs. Once the basic compound is completed in Department R, it is transferred to Department for mixing and packaging. The following information is available from the River Plant for May (No new material is added in Department S.) Departments Production and Costs: May Beginning inventory (65,000 units, 4ox complete with respect to Departments costs) Total cost (Department R and Department s) cost: Beginning inventory $ 502,749 Current work (565, 009 units started) Department R costs $3,472,100 Department S costs 1,261,051 The ending inventory has 85,000 units, which are 100 percent complete for Department costs. Required: a. Assume that Saline Solutions used weighted-average process costing and that the cost per equivalent unit for May for materials in Department Sis $6.20 and for conversion costs it is $2.20. Prepare a production cost report for Saline Solutions Departments for the month of May b. What is the cost of product transferred out of Department Sfor May? c. What is the cost of ending inventory In Department S for May? Complete this question by entering your answers in the tabs below. Required A Required B Required Complete this question by entering your answers in the tabs below. Required A Required B Required Assume that Saline Solutions used weighted-average process costing and that the cost per equivalent unit for May for materials in Department is $6.20 and for conversion costs it is $2.20. Prepare a production cost report for Saline Solutions' Departments for the month of May. (Round "Cost per equivalent unit to 2 decimal places.) Physical Units Equivalent Units Total Direct Conversion Materials Costs Flow of units Units to be accounted for Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed and transferred out Units in ending inventory Mixing Packaging Total units accounted for 0 s 0 Flow of costs Costs to be accounted for: Costs in beginning WIP Inventory Current period costs Total costs to be accounted for Cost per equivalent unit Materials Conversion Costs accounted for Costs assigned to units transferred out Costs of ending WIP Inventory Total costs accounted for 5 0 Problem 8-61 (Algo) Prepare a Production Cost Report: Weighted-Average Method, Missing Data (LO 8- 2,4) Saline Solutions uses process costing to account for production of its unique compound BG at its River Plant. The River Plant has two departments: Rand S Raw materials are added at two points in the production of BG. First, rubber pellets are added at the beginning of production in Department R. Next, aliquid thinner is added in Department when the product is 70 percent complete with respect to conversion costs. Once the basic compound is completed in Department R, it is transferred to Departments for mixing and packaging. The following information is available from the River Plant for May (No new material is added in Department S.) Departments Production and Costs: May Beginning inventory (65,000 units, ex complete with respect to Department s costs) Total cost (Department R and Department S) cost: Beginning inventory $ 502, 749 Current work (565,000 units started) Department R costs $3,472,100 Department s costs 1,261,951 The ending inventory has 85,000 units, which are 100 percent complete for Department R costs. Required: a. Assume that Saline Solutions used weighted average process costing and that the cost per equivalent unit for May for materials in Department Sis $6.20 ard for conversion costs it is $2.20. Prepare a production cost report for Saline Solutions Departments for the month of May. b. What is the cost of product transferred out of Department S for May? c. What is the cost of ending inventory in Departments for May? Complete this question by entering your answers in the tabs below. Required A Required B Required What is the cost of product transferred out of Department S for May? Cost of product transferred out Problem 8-61 (Algo) Prepare a Production Cost Report: Weighted Average Method, Missing Data (LO 8- 2.4) Saline Solutions uses process costing to account for production of its unique compound BG at its River Plant. The River Plant has two departments: Rand S. Raw materials are added at two points in the production of BG. First, rubber pellets are added at the beginning of production in Department R. Next, a liquid thinner is added in Department when the product is 70 percent complete with respect to conversion costs. Once the basic compound is completed in Department R, it is transferred to Departments for mixing and packaging. The following information is available from the River Plant for May (No new material is added in Departments) Departments Production and Costs: May Beginning inventory (65,000 units, 48% complete with respect to Department s costs) Total cost (Department R and Department s) cost: Beginning inventory $ 502,749 Current work (565,898 units started) $3,472, 100 Department s costs 1,261, 051 Department R costs The ending inventory has 85.000 units, which are 100 percent complete for Department costs. Required: a. Assume that Saline Solutions used weighted average process costing and that the cost per equivalent unit for May for materials in Department is $6,20 arid for conversion costs it is $2.20. Prepare a production cost report for Saline Solutions' Departments for the month of May. b. What is the cost of product transferred out of Departments for May? c. What is the cost of ending inventory in Departments for May? Complete this question by entering your answers in the tabs below. Required A Required B Requked c What is the cost of ending inventory in Department Sfor May? Cost of ending inventory