Edwina Industrial Products (EIP) manufactures cleaning products. The Grant Street Plant produces a single product in...
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Edwina Industrial Products (EIP) manufactures cleaning products. The Grant Street Plant produces a single product in three departments: Mixing, Refining, and Packaging. Additional materials are added in the Refining Process when units are 40 percent complete with respect to conversion. Information for operations in September in the Refining process appear as follows. Work in process on September 1 consisted of 26,000 units with the following costs: Mixing costs transferred in Costs added in Refining Direct materials Conversion costs Work in process September 1 Amount $ 13,500 Degree of Completion 100% $ 28,100 30,145 100% 80% $ 58,245 $ 71,745 During September, 280,000 units were transferred in from Mixing at a cost of $166,084. The following costs were added in Refining in September. Direct materials Conversion costs Total costs added $ 360,200 446,800 $ 807,000 Refining finished 265,000 units in September and transferred them to Packaging. At the end of September, there were 41,000 units in work-in-process inventory. The units were 20 percent complete with respect to conversion costs. The Refining Department uses the weighted-average method of process costing. The Mixing Department at the Grant Street Plant uses the FIFO method of process costing. If the Mixing Department at the plant had used the weighted-average method, the amount of costs transferred in from Mixing would have been $172,800 for the amount transferred in this month. Required: Prepare a production cost report for September for the Refining Department. Note: Round "Cost per equivalent unit" to 2 decimal places. Round your final answers to nearest whole number. Edwina Industrial Products (EIP) manufactures cleaning products. The Grant Street Plant produces a single product in three departments: Mixing, Refining, and Packaging. Additional materials are added in the Refining Process when units are 40 percent complete with respect to conversion. Information for operations in September in the Refining process appear as follows. Work in process on September 1 consisted of 26,000 units with the following costs: Mixing costs transferred in Costs added in Refining Direct materials Conversion costs Work in process September 1 Amount $ 13,500 Degree of Completion 100% $ 28,100 30,145 100% 80% $ 58,245 $ 71,745 During September, 280,000 units were transferred in from Mixing at a cost of $166,084. The following costs were added in Refining in September. Direct materials Conversion costs Total costs added $ 360,200 446,800 $ 807,000 Refining finished 265,000 units in September and transferred them to Packaging. At the end of September, there were 41,000 units in work-in-process inventory. The units were 20 percent complete with respect to conversion costs. The Refining Department uses the weighted-average method of process costing. The Mixing Department at the Grant Street Plant uses the FIFO method of process costing. If the Mixing Department at the plant had used the weighted-average method, the amount of costs transferred in from Mixing would have been $172,800 for the amount transferred in this month. Required: Prepare a production cost report for September for the Refining Department. Note: Round "Cost per equivalent unit" to 2 decimal places. Round your final answers to nearest whole number.
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Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
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