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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 (11,400 units, 20% complete with respect to Finishing costs) | ||
Transferred-in costs (from Mixing) | $ | 138,720 |
Finishing conversion costs | 7,010 | |
Current work (100,800 units started) | ||
Mixing costs | 1,028,160 | |
Finishing costs | 560,304 |
The ending inventory has 15,400 units, which are 60 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.) Physical Units Equivalent Units Mixing Finishing Department Department Flow of units: Units to be accounted for. Beginning WIP inventory Units started this period Total units to account for Units accounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for
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