Martine Processing Company uses a weighted-average process costing system and manufactures a single producta premium rug shampoo
Question:
Martine Processing Company uses a weighted-average process costing system and manufactures a single product—a premium rug shampoo and cleaner. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the mixing and cooking department is shown below.
Instructions
(a) Prepare a schedule that shows how the equivalent units were computed so that you can complete the “Quantities: Units accounted for” equivalent units section shown in the production cost report, and compute October unit costs.
(b) Complete the “Cost Reconciliation Schedule” part of the production cost report below.
Step by Step Answer:
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso