Step 2 Equivalent units

Material Labor Overhead

Units:

Units completed: ____ ____

EU, WIP ____ ____

Totals (EU) ========= ========= ===========

Step 3 Add costs and compute cost per equivalent unit

Cost per Equivalent Unit Calculation:

Material Labor Overhead Total

Cost:

Beginning WIP __________ _________ _ ____ _________

Cost incurred Aug. ____ ____ ____________

Totals ========== ========== =========== ============

( / ) -

Equivalent units ========= ========= =========== ============

( = )

Cost per EU ========= ========= =========== ============

Part IV - Problem - Process Costing. Total = 30 points. The Whitecotton Company manufacturers a product that goes through two departments. During the month of August, 2019 the following data was recorded for the mixing department. Materials aterials Labor Overhead Units in beginning WIP Units started during Aug. Units completed Units in ending WIP Costs in beginning WIP Costs added during Aug. Units 6,000 40,000 34,000 12,000 $54,000 $222,000 $20,000___ $420,000 $10,000 $150,000 The ending work in process was 100% complete with respect to materials and 50% complete with respect to labor and overhead. Prepare a Production Cost Report for August, 2019 Production Cost Report Mixing Department August, 2019 Step 1 - Reconcile units Unit Reconciliation: Units in Beginning WIP Units started during August Units to account for Units completed and transferred Units in Ending WIP Units accounted for Step 2 - Equivalent units