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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 (11,300 units, 25% complete with respect to Finishing costs) | ||
Transferred-in costs (from Mixing) | $ | 136,510 |
Finishing conversion costs | 11,085 | |
Current work (100,600 units started) | ||
Mixing costs | 1,016,060 | |
Finishing costs | 547,695 | |
The ending inventory has 15,300 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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