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).
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WIP inventoryFinishing |
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Beginning inventory (10,500 units, 20% complete with respect to Finishing costs) |
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Transferred-in costs (from Mixing) | $ | 119,550 |
Finishing conversion costs |
| 7,615 |
Current work (99,000 units started) |
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Mixing costs |
| 920,700 |
Finishing costs |
| 460,690 |
The ending inventory has 14,500 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.)
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