Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth...
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Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department). WIP inventory-Finishing Beginning inventory (11,800 units, 30% complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (101,600 units started) Mixing costs Finishing costs $ 147,760 15,257 1,076,960 591, 368 The ending inventory has 15,800 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs. Required: Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.) 4 Required: Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.) Physical Units Equivalent Units Mixing Department Finishing Department oints Flow of units: Units to be accounted for: eBook Beginning WIP inventory Units started this period References Total units to account for Units accounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for Mixing Department Finishing Department Total Flow of costs: Costs to be accounted for Costs in beginning WIP inventory Current period costs Total costs to be accounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for Mixing Department Finishing Department Total Flow of costs: Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for Cost per equivalent unit Mixing Finishing Costs accounted for: Costs assigned to units transferred out Costs of ending WIP inventory Total costs accounted for Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department). WIP inventory-Finishing Beginning inventory (11,800 units, 30% complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (101,600 units started) Mixing costs Finishing costs $ 147,760 15,257 1,076,960 591, 368 The ending inventory has 15,800 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs. Required: Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.) 4 Required: Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.) Physical Units Equivalent Units Mixing Department Finishing Department oints Flow of units: Units to be accounted for: eBook Beginning WIP inventory Units started this period References Total units to account for Units accounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for Mixing Department Finishing Department Total Flow of costs: Costs to be accounted for Costs in beginning WIP inventory Current period costs Total costs to be accounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for Mixing Department Finishing Department Total Flow of costs: Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for Cost per equivalent unit Mixing Finishing Costs accounted for: Costs assigned to units transferred out Costs of ending WIP inventory Total costs accounted for
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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