Question:1

Basic Flows, Equivalent Units Thayn Company produces an arthritis medication that passes through two departments: mixing and tableting. Thayn uses the weighted average method. Data for February for mixing are as follows: BWIP was zero; EWIP had 36,000 units, 50% complete; and 440,000 units were started. Tableting's data for February are as follows: BWIP was 24,000 units, 20% complete; and 12,000 units were in EWIP, 40% complete. Required: 1. For Mixing, calculate the (a) number of units transferred to Tableting, and (b) equivalent units of production. a. Units transferred to Tableting 404,000 units b. Equivalent units of production 422,000 V units 2. For Tableting, calculate the number of units transferred out to Finished Goods. 416,000 units 3. Conceptual Connection: Suppose that the units in the mixing department are measured in ounces, while the units In Tableting are measured in bottles of 100 tablets, with a total weight of eight ounces (excluding the bottle). Now, repeat Requirement 2 using this approach. Units transferred out 33,280 X unitsEquivalent Units, Unit Cost, Weighted Average Tapyt Inc. manufactures throw rugs. The throw rug department weaves cloth and yarn into throw rugs of various sizes. Tapyt uses the weighted average method. Materials are added uniformly throughout the weaving process. In August, Tapyt switched from FIFO to the weighted average method. The following data are for the throw rug department for August Production: Units in process, August 1, 60% complete 60,000 Units completed and transferred out 180,000 Units In process, August 31, 60% complete 60,000 Costs: WIP, August 1 $216,000 Current costs 907,200 Total $1,123,200 Required: 1. Prepare a physical flow analysis for the throw-rug department for August. Tapyt Inc. Physical Flow Analysis For the Month of August Line Item Description Units Units Units to account for: Units In beginning work In process (60% complete) 60,000 V Units started during the period 180,000 V Total units to account for 240,000 Units accounted for: Units completed and transferred out: Started and completed 240,000 X From beginning work in process 60,000 180,000 V Units In ending work In process (60% complete) 60,000 Total units accounted for 240,000 Feedback Check My Work Partially correct 2. Calculate equivalent units of production for the throw-rug department for August. 216,000 v equivalent units 3. Calculate the unit cost for the throw-rug department for August. Round your answer to the nearest cent. 5.2 v per unit 4. Show that the cost per unit calculated in Requirement 3 is a weighted average of the FIFO cost per equivalent unit in BWIP and the FIFO cost per equivalent unit for August. If required, round your answers to two decimal places. Hint: The weights are In proportion to the number of units from each source. Equivalent units In beginning work In process Prior period unit cost FIFO equivalent units for materials FIFO unit cost The weighted average unit costTapyt Inc. manufactures throw rugs. The throw rug department weaves cloth and yarn into throw rugs of various sizes. Tapyt uses the weighted average method. Materials are added uniformly throughout the weaving process. In August, Tapyt switched from FIFO to the weighted average method. The following data are for the throw rug department for August: Production: Units in process, August 1, 60% complete 60,000 Units completed and transferred out 180,000 Units In process, August 31, 60% complete 60,000 Costs: WIP, August 1 $216,000 Current costs 907,200 Total $1,123,200 The owner of Tapyt Insisted on a formal report that provided all the details of the weighted average method. In the manufacturing process, all materials are added uniformly throughout the process. Required: Download Excel spreadsheet Prepare a production report for the throw rug department for August using the weighted average method. If an amount box does not require an entry, leave it blank or enter zero "0". Round cost per equivalent unit value to the nearest cent and use rounded value in Intermediate calculations. Tapyt Inc. Throw Rug Department Production Report For the Month of August (Weighted Average Method) Unit Information Physical flow: Units to account for: Units in beginning WIP 60,000 Units started 180,000 Total units to account for 240,000 Units accounted for: Units completed 180,000 Units In ending WIP 60,000 Total units accounted for 240,000 Equivalent units: Units completed 180,000 Units In ending work In process 36,000 Total equivalent units 216,000 Cost Information Costs to account for: Costs In beginning work in process 216,000 Costs added by department 907,200 v Total costs to account for $ 1,123,200 Cost per equivalent unit Costs accounted for: Transferred Out Ending Work In Process Total Goods transferred out Goods In ending work In process Conversion Total costs accounted for