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QUESTION 2 Suncrest Corporation manufactures a product that goes through several departments prior to completion. The following information is available on work in the Mixing
QUESTION 2 Suncrest Corporation manufactures a product that goes through several departments prior to completion. The following information is available on work in the Mixing Department during the month of June 2021. Percent Completed Units Materials Conversion Work in process inventory, beginning 20,000 100% 75% Started into production 180,000 Completed and transferred out 160,000 Work in process inventory, ending 40,000 100% 25% Cost in the beginning work in process inventory and cost added during the June were as follows: Conversion $ Materials Work in process inventory, beginning 25,200 $ 24,800 Cost added during June 238,700 334,800 The Mixing Department is the first department in the production process; after mixing has been completed, the units are then transferred to the Molding Department, the second department of the production process. Required: A) Based on the Weighted Average processing cost method (18 marks) B) Based on the FIFO of processing costs method (18 marks) i) ii) Compute the following: Compute the number of Units Started and Completed and Transferred Out to the Molding Department in June. Compute the equivalent units (EU) for Direct Materials and Conve ion Costs for the month June. Compute the Cost per Equivalent Unit for Direct Materials and Conversion Costs for the month of June. iii) iv) Compute the mixing cost per unit for the month of June. v) The total cost of finished goods started and completed and transferred out to the Molding Department in June. vi) The total cost of work-in process inventory at June 30
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