Question
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department).
| WIP inventoryFinishing | ||
| Beginning inventory (10,700 units, 20% complete with respect to Finishing costs) | ||
| Transferred-in costs (from Mixing) | $ | 123,670 |
| Finishing conversion costs | 8,003 | |
| Current work (99,400 units started) | ||
| Mixing costs | 944,300 | |
| Finishing costs | 472,867 | |
The ending inventory has 14,700 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.
Required:
Complete the production cost report using the weighted-average method.
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Cornerstones of Cost Management
Authors: Don R. Hansen, Maryanne M. Mowen
2nd edition
1111824401, 978-1111824402
