Firenze, Inc., manufactures a product that goes through two departments prior to completion–the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June. Percent Completed Materials 70% Units 85,000 400,000 385,000 100,000 Conversion Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June 30% 80% 45% $16,500 $263,000 $41,200 $368,000 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the Mixing Department. 2. Compute the costs per equivalent unit for June for the Mixing Department. 3. Determine the total cost of ending work in process inventory and the total cost of u transferred to the Packaging Department. 4. Prepare a cost reconciliation report for the Mixing Department for June.
Firenze, Inc., manufactures a product that goes through two departments prior to completion–the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June. Percent Completed Materials 70% Units 85,000 400,000 385,000 100,000 Conversion Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June 30% 80% 45% $16,500 $263,000 $41,200 $368,000 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the Mixing Department. 2. Compute the costs per equivalent unit for June for the Mixing Department. 3. Determine the total cost of ending work in process inventory and the total cost of u transferred to the Packaging Department. 4. Prepare a cost reconciliation report for the Mixing Department for June.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 17E: K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the...
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