Question: Question 9 Chapter 8 Cost Accounting Exercise 8-50 (Algo) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6) Terminal Industries (TI) produces
Question 9 Chapter 8 Cost Accounting
Exercise 8-50 (Algo) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6)
Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing.
| WIP Inventory Processing Department: August 1 | ||
|---|---|---|
| Quantity (60% complete) | 31,750 | units |
| Transferred-in costs (from Mixing Department) | $ 43,190 | |
| Conversion costs (Processing Department) | 13,762 | |
| Total WIP cost: August 1 | $ 56,952 | |
| Current production and costs (August) | ||
| Units started | 78,750 | units |
| Current costs | ||
| Transferred-in costs (from Mixing Department) | $ 94,500 | |
| Conversion costs (Processing Department) | 60,600 | |
| Total current cost: August | $ 155,100 | |
| WIP Inventory Processing Department (August 31) | ||
| Quantity (20% complete) | 16,750 | units |
| Transferred-in costs (from Mixing Department) | ?? | |
| Conversion costs (Processing Department) | ?? | |
| Total WIP cost: August 31 | ?? |
Required:
a. Complete the production cost report for August using the weighted-average method.
Note: Round "Cost per equivalent unit" to 2 decimal places.
These need to be answered in the chart form
I need this ASAP please.
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