Required: 1. Prepare (a) a physical flow schedule, and (b) an equivalent unit schedule. (6 marks) 2. Calculate the unit cost. (Note: Round to three decimal places.) (3 marks) 3. Compute the cost of ending WIP and the cost of goods transferred out. (2 marks) 4. Prepare a cost reconciliation schedule. (2 marks)

Question 2: Weighted average process costing: m Question 2: Weighted average process costing: manufacturer (13 Marks) A2Z Company produces a variety of stationery products. One product, sealing wax sticks, passes through two processes: blending and moulding. The weighted average method is used to account for the costs of production. After blending, the resulting product is sent to the moulding department, where it is poured into moulds and cooled. The following information relates to the blending process for August 1. WIP, 1 August, had 30 000 kg, 20% complete. Costs associated with partially completed units were Materials Direct labour Overhead applied $220 000 $30 000 $20 000 2. WIP, 31 August, had 50 000 kg, 40% complete. 3. Units completed and transferred out totalled 480 000 kg. Costs added during the month were (all inputs are added uniformly): $5 800 000 $4 250 000 $1 292 500 Direct labour Overhead applied