Question: ***Please show explanation/work. I must use excel formulas to answer question. Problem 3A Cannery Row produces condensed tomato soup using two processes: mixing and canning.


***Please show explanation/work. I must use excel formulas to answer question.
Problem 3A Cannery Row produces condensed tomato soup using two processes: mixing and canning. The company's accountant has produced the following process costing data for February 20YY: Cannery Row - Process costing data for February 20YY Mixing Dept. Canning Dept. 2,000 Units information (i.e. gallons of product) Beginning Work in progress (WIP) (in gallons) Units started in production this month (in gallons) Units/gallons completed & transferred out during the month Completion percentage at end of month: Ending WIP, direct materials added (%) Ending WIP, conversion work performed (%) 1,000 23,000 See Mixing 20,000 13,500 50% 25% 10% 75% $ $ Costs information Beginning WIP, costs added in prior periods: Beginning WIP, costs added in prior periods: Direct materials Conversion cost: direct labor Conversion cost: overhead applied 12,000 10,000 16,000 9,250 12,125 40,000 20,000 13,500 Units/gallons completed & transferred out during the month Completion percentage at end of month: Ending WIP, direct materials added (%) Ending WIP, conversion work performed (%) 50% 25% 10% 75% $ $ Costs information Beginning WIP, costs added in prior periods: Beginning WIP, costs added in prior periods: Direct materials Conversion cost: direct labor Conversion cost: overhead applied Transferred in costs Costs added to process in February 20YY: Direct materials Conversion cost: direct labor Conversion cost: overhead applied 12,000 10,000 16,000 9,250 12,125 40,000 33,000 N/A 98,000 25,000 75,000 62,500 20,000 67,000 Required: Using the weighted average method and the template below, prepare the process costing report for the Mixing Department for February 20YY. Required: Using the weighted average method and the template below, prepare the process costing report for the Mixing Department for February 20YY. Cannery Row: Mixing Dept Process Costing Report for February 20YY - Weighted Average Percentage completed Equivalent units Total Direct materials Conversion Direct materials Conversion Units Beginning WIP inventory Units started Units to account for Units completed and transferred out Ending WIP inventory Units accounted for Total $ $ $ Costs (BWIP costs + Costs Added during period) Beginning WIP inventory Costs added this month Total costs in process Cost per equivalent unit ($) Cost assignment (Costs per EU X EU) Units completed transferred out Ending WIP inventory Total costs
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