Hamilton Processing Company uses the weighted-average method and manufactures a single product—an industrial carpet shampoo used by many universities. 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 as follows. Beginning work in process is 100% complete for direct materials and 70% complete for conversion costs. Ending work in process is 60% complete for direct materials and 40% complete for conversion costs.

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 production cost report for October 2022. 

Transcribed Image Text:

Quantities Units to be accounted for Work in process, October 1 (100% materials, 70% conversion costs) Started into production Total units to be accounted for Hamilton Processing Company Mixing and Cooking Department Production Cost Report For the Month Ended October 31, 2022 Units accounted for Completed and transferred out Work in process, October 31 (60% materials, 40% conversion costs) Total units accounted for Costs Unit costs Total cost Equivalent units Unit costs Physical Units 20,000 150,000 170,000 120,000 50,000 170,000 Equivalent Units Materials Materials $240,000 ? $ ? + Conversion Costs ? Conversion Costs $105,000 ? $ ? = Total $345,000 $ ? (continues)