Monsta Cola hires us to help assign and report costs. The company has two departments mixing and bottling. To aid our analysis, the following Tableau Dashboard is provided with information for the mixing department The company uses the weighted average method Work in Process Inventory (In Units) Beginning inventory Units started this period Units completed and transferred Ending Inventory 0 100.000 200,000 300,000 400,000 500.000 600,000 700.000 800,000 www UUUU BUUUUU Work in Process Inventory Completion Percentages Beginning Ending 10096 8096 6096 4096 2096 096 Direct Materials Conversion Direct Materials Conversion Work in Process Inventory Costs Beginning Inventory Costs Inventory Costs Added During Month Conversion Conversion Direct Materials Direct Materials tableau 1. Prepare a process cost summary for the mixing department 2. Management's bonus is based on reporting low amounts of inventory. With this bonus system is management more likely to overestimate or underestimate completion percentages assigned to each component of ending inventory? 3. If an error is made and the percentage of completion for units in ending Inventory is overstated. what effect does this have on current period financial statements? Prepare a process cost summary for the mixing department. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production $ 0.00 Total costs to account for Total costs accounted for "Difference due to rounding cost/unit Unit Reconciliation Units to account for $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP). Weighted Average Method Units % Materials EUP Materials % Conversion EUP Conversion Equivalent units of production Cost per EUP Materials Conversion Costs EUP Costs EUP 0 0 EUP Cost per EUP Total CONE Total costs -Equivalent units of production Cost per equivalent unit of production Cool Assignment and Reconciliation Costs transferred out Direct materials Conversion Total transferred out Costs of ending work in process Direct materials Conversion Yotal ending work in process Total cost accounted for EUP Cost per EUP Total cost 0.00 0.00 S Required 2 > Monsta Cola hires us to help assign and report costs. The company has two departments mixing and bottling. To aid our analysis, the following Tableau Dashboard is provided with information for the mixing department The company uses the weighted average method Work in Process Inventory (In Units) Beginning inventory Units started this period Units completed and transferred Ending Inventory 0 100.000 200,000 300,000 400,000 500.000 600,000 700.000 800,000 www UUUU BUUUUU Work in Process Inventory Completion Percentages Beginning Ending 10096 8096 6096 4096 2096 096 Direct Materials Conversion Direct Materials Conversion Work in Process Inventory Costs Beginning Inventory Costs Inventory Costs Added During Month Conversion Conversion Direct Materials Direct Materials tableau 1. Prepare a process cost summary for the mixing department 2. Management's bonus is based on reporting low amounts of inventory. With this bonus system is management more likely to overestimate or underestimate completion percentages assigned to each component of ending inventory? 3. If an error is made and the percentage of completion for units in ending Inventory is overstated. what effect does this have on current period financial statements? Prepare a process cost summary for the mixing department. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production $ 0.00 Total costs to account for Total costs accounted for "Difference due to rounding cost/unit Unit Reconciliation Units to account for $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP). Weighted Average Method Units % Materials EUP Materials % Conversion EUP Conversion Equivalent units of production Cost per EUP Materials Conversion Costs EUP Costs EUP 0 0 EUP Cost per EUP Total CONE Total costs -Equivalent units of production Cost per equivalent unit of production Cool Assignment and Reconciliation Costs transferred out Direct materials Conversion Total transferred out Costs of ending work in process Direct materials Conversion Yotal ending work in process Total cost accounted for EUP Cost per EUP Total cost 0.00 0.00 S Required 2 >
