Firenze, Ic., manufactures a product that goes through two departments prior to completion-the Mixing Department followed...
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Firenze, Ic., manufactures a product that goes through two departments prior to completion-the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June. Units 85,000 400,000 Percent Completed Materials Conversion 30% Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June 70% 385,000 100,000 80% 45% $41,200 $368,000 $16,500 $263,000 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the Mixing Department. 2. Compute the costs per equivalent unit for June for the Mixing Department. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the Packaging Department. 4. Prepare a cost reconciliation report for the Mixing Department for June. Firenze, Ic., manufactures a product that goes through two departments prior to completion-the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June. Units 85,000 400,000 Percent Completed Materials Conversion 30% Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June 70% 385,000 100,000 80% 45% $41,200 $368,000 $16,500 $263,000 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the Mixing Department. 2. Compute the costs per equivalent unit for June for the Mixing Department. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the Packaging Department. 4. Prepare a cost reconciliation report for the Mixing Department for June.
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Related Book For
Managerial Accounting
ISBN: 978-0078111006
14th edition
Authors: Ray Garrison, Eric Noreen and Peter Brewer
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