Saved el Project Cells Paste BIU Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font B28 X B D E 1 Hayword, Inc. uses weighted average costing and has two departments - mixing and packaging. The following information relates to work in the mixing department for the month of July 3 4 Work in process, July 1: 5 Units in process 300 6 Percent completed with respect to materials 60% 7 Percent completed with respect to conversion 40% 8 Cost in the beginning inventory: 9 Materials cost $10,500 10 Conversion cost $6,750 11 Units started into production during the period 6,200 12 Costs added to production during the period: 13 Materials cost $330,912 14 Conversion cost $406,408 15 Work in process, July 31: 16 Units in process 450 17 Percent completed with respect to materials 40% 18 Percent completed with respect to conversion 30% 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. 23 Mixing Department 24 Equivalent Units of Production Sheet1 V-Hill Editing D E 4 Saved roject i Cell Cells Paste BIU.EE Alignment Number Conditional Format as Formatting Table Styles Styles Clipboard Font B28 > fx B D 2 1. Compute equivalent units. 3 Mixing Department Equivalent Units of Production 5 Materials Conversion 6 Units transferred to the next department 7 Ending work in process: Materials 9 Conversion o Equivalent units of production 1 2 2. Compute cost per equivalent unit. 3 Mixing Department 4 Cost per Equivalent Unit Materials Conversion 6 Cost of beginning work in process 7 Cost added during the period 8 Total cost 9 Equivalent units of production 0 Cost per equivalent unit 1 2 3. Assign costs. 3 Mixing Department 4 Costs of Ending Work in Process Inventory and the Units Transferred Out 5 Materials Sheet1 Conversion Total 5 ** Cell Cells Editing Alignment Number Paste BIU- Conditional Format as Formatting Table Styles Styles Font Clipboard B28 B D E 32 2. Compute cost per equivalent unit. 33 Mixing Department 34 Cost per Equivalent Unit Materials Conversion 35 36 Cost of beginning work in process 37 Cost added during the period 38 Total cost 39 Equivalent units of production 40 Cost per equivalent unit 41 42 3. Assign costs. 43 Mixing Department 44 Costs of Ending Work in Process Inventory and the Units Transferred Out 45 Materials Conversion 46 Ending work in process inventory: 47 Equivalent units of production 48 Cost per equivalent unit 49 Cost of ending work in process inventory 50 Total 51 Units completed and transferred out: 52 Units transferred to the next department 53 Cost per equivalent unit 54 Cost of units transferred out 55 Sheet1 Font Styles Clipboard B28 B A Conversion D Total Materials 45 46 Ending work in process inventory: 47 Equivalent units of production 48 Cost per equivalent unit 49 Cost of ending work in process inventory 50 51 Units completed and transferred out: 52 Units transferred to the next department 53 Cost per equivalent unit 54 Cost of units transferred out 55 56 4. Prepare reconciliation. 57 Mixing Department 58 Cost Reconciliation 59 Costs to be accounted for: 60 Cost of beginning work in process inventory 61 Costs added to production during the period 62 Total cost to be accounted for 63 Costs accounted for as follows: 64 Cost of ending work in process inventory 65 Cost of units transferred out 66 Total cost accounted for 67 68 Sheet1
