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 (12,000 units, 30% complete with respect to Finishing costs) Transferred-in costs (from Mixing)$152,400Finishing conversion costs 16,300Current work (102,000 units started) Mixing costs 1,101,600Finishing costs 614,400
The ending inventory has 16,000 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. (Round "Cost per equivalent unit" to 2 decimal places.) Please show work
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Principles of Financial Accounting
Authors: Belverd E. Needles, Marian Powers
12th edition
978-1133940562, 1133940560, 978-1285608464, 1285608461, 1133939287, 978-0357693605, 978-1285607047, 128560704X, 978-1133939283
