1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing...

  

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1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing department costs for October 2020 for each cost category, and calculate the cost per equivalent unit? 3. Assign total costs to units completed and transferred out and to units in ending work in process? 4) By reference to the above data: How does process costing differ from job costing, and in what types of industries is process costing typically used? Physical Units (Gallons of Paint) Direct Materials Conversion Costs Work in process, October 15 8,000 Started during October 2020 22,000 Completed during October 2020 25,500 Work in process, October 31 4,500 Total costs added during October 2020 $4,700,000 x Degree of completion: direct materials, 100%; conversion costs, 60%. y Degree of completion: direct materials, 100%; conversion costs, 70%. $1,400,000 $ 450,700 $2,555,500 1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing department costs for October 2020 for each cost category, and calculate the cost per equivalent unit? 3. Assign total costs to units completed and transferred out and to units in ending work in process? 4) By reference to the above data: How does process costing differ from job costing, and in what types of industries is process costing typically used? Physical Units (Gallons of Paint) Direct Materials Conversion Costs Work in process, October 15 8,000 Started during October 2020 22,000 Completed during October 2020 25,500 Work in process, October 31 4,500 Total costs added during October 2020 $4,700,000 x Degree of completion: direct materials, 100%; conversion costs, 60%. y Degree of completion: direct materials, 100%; conversion costs, 70%. $1,400,000 $ 450,700 $2,555,500 1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing department costs for October 2020 for each cost category, and calculate the cost per equivalent unit? 3. Assign total costs to units completed and transferred out and to units in ending work in process? 4) By reference to the above data: How does process costing differ from job costing, and in what types of industries is process costing typically used? Physical Units (Gallons of Paint) Direct Materials Conversion Costs Work in process, October 15 8,000 Started during October 2020 22,000 Completed during October 2020 25,500 Work in process, October 31 4,500 Total costs added during October 2020 $4,700,000 x Degree of completion: direct materials, 100%; conversion costs, 60%. y Degree of completion: direct materials, 100% ; conversion costs, 70%. $1,400,000 $ 450,700 $2,555,500 1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing department costs for October 2020 for each cost category, and calculate the cost per equivalent unit? 3. Assign total costs to units completed and transferred out and to units in ending work in process? 4) By reference to the above data: How does process costing differ from job costing, and in what types of industries is process costing typically used? Physical Units (Gallons of Paint) Direct Materials Conversion Costs Work in process, October 15 8,000 Started during October 2020 22,000 Completed during October 2020 25,500 Work in process, October 31 4,500 Total costs added during October 2020 $4,700,000 x Degree of completion: direct materials, 100%; conversion costs, 60%. y Degree of completion: direct materials, 100%; conversion costs, 70%. $1,400,000 $ 450,700 $2,555,500 1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing department costs for October 2020 for each cost category, and calculate the cost per equivalent unit? 3. Assign total costs to units completed and transferred out and to units in ending work in process? 4) By reference to the above data: How does process costing differ from job costing, and in what types of industries is process costing typically used? Physical Units (Gallons of Paint) Direct Materials Conversion Costs Work in process, October 15 8,000 Started during October 2020 22,000 Completed during October 2020 25,500 Work in process, October 31 4,500 Total costs added during October 2020 $4,700,000 x Degree of completion: direct materials, 100%; conversion costs, 60%. y Degree of completion: direct materials, 100%; conversion costs, 70%. $1,400,000 $ 450,700 $2,555,500 1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total mixing department costs for October 2020 for each cost category, and calculate the cost per equivalent unit? 3. Assign total costs to units completed and transferred out and to units in ending work in process? 4) By reference to the above data: How does process costing differ from job costing, and in what types of industries is process costing typically used? Physical Units (Gallons of Paint) Direct Materials Conversion Costs Work in process, October 15 8,000 Started during October 2020 22,000 Completed during October 2020 25,500 Work in process, October 31 4,500 Total costs added during October 2020 $4,700,000 x Degree of completion: direct materials, 100%; conversion costs, 60%. y Degree of completion: direct materials, 100% ; conversion costs, 70%. $1,400,000 $ 450,700 $2,555,500

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To solve this problem we need to calculate the equivalent units summarize total costs and then assign those costs based on the given degree of complet... View the full answer