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Equivalent Units of Production Materials Conversion Units transferred to the next department Ending work in process: : Materials Conversion Equivalent units of production - 2. Compute cost per equivalent unit. Mixing Department Cost per Equivalent Unit Materials Conversion Cost of beginning work in process -Cost added during the period : Total cost Equivalent units of production Cost per equivalent unit

Equivalent Units of Production Materials Conversion Units transferred to the next department Ending work in process: : Materials Conversion Equivalent units of production - 2. Compute cost per equivalent unit. Mixing Department Cost per Equivalent Unit Materials Conversion Cost of beginning work in process -Cost added during the period : Total cost Equivalent units of production Cost per equivalent unit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Excel SIM: Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted average method. 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted average method. 4. Prepare a cost reconciliation report. 国日ら Process Costing using the Weighted-Average Method - Excel FILE НОМЕ INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 -A A % Paste BIU- Alignment Number Conditional Format as Cell Cells Formatting - Table - Styles Clipboard Font Styles A11 fe Units started into production during the period B C E Mixing Department Equivalent Units of Production 23 24 25 Materials Conversion 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 31 32 2. Compute cost per equivalent unit. Mixing Department Cost per Equivalent Unit 33 34 35 Materials Conversion 36 Cost of beginning work in process 37 Cost added during the period 38 Total cost 39 Equivalent units of production 40 Cost per equivalent unit 41 42 3. Assign costs. Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out 43 44 45 Materials Conversion Total 46 Ending work in process inventory: Sheet1 READY 曲 + 100% Attempt(s) Hint Show Me
Transcribed Image Text:Excel SIM: Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted average method. 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted average method. 4. Prepare a cost reconciliation report. 国日ら Process Costing using the Weighted-Average Method - Excel FILE НОМЕ INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 -A A % Paste BIU- Alignment Number Conditional Format as Cell Cells Formatting - Table - Styles Clipboard Font Styles A11 fe Units started into production during the period B C E Mixing Department Equivalent Units of Production 23 24 25 Materials Conversion 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 31 32 2. Compute cost per equivalent unit. Mixing Department Cost per Equivalent Unit 33 34 35 Materials Conversion 36 Cost of beginning work in process 37 Cost added during the period 38 Total cost 39 Equivalent units of production 40 Cost per equivalent unit 41 42 3. Assign costs. Mixing Department Costs of Ending Work in Process Inventory and the Units Transferred Out 43 44 45 Materials Conversion Total 46 Ending work in process inventory: Sheet1 READY 曲 + 100% Attempt(s) Hint Show Me
Excel SIM: Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted average method. 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted average method. 4. Prepare a cost reconciliation report. 国日ら Process Costing using the Weighted-Average Method - Excel FILE НОМЕ INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 -A A % Paste BIU- Alignment Number Conditional Format as Cell Cells Formatting - Table Styles Clipboard Font Styles A11 fe Units started into production during the period A B C E 1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. 2 The following information relates to work in the mixing department for the month of July: 3 4 Work in process, July 1: Units in process 5 300 Percent completed with respect to materials Percent completed with respect to conversion Cost in the beginning inventory: 60% 7 40% 8 Materials cost $10,500 $6,750 9 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 6,200 13 Materials cost $332,150 14 Conversion cost $407,645 15 Work in process, July 31: 16 Units in process 450 Percent completed with respect to materials 18 Percent completed with respect to conversion 17 40% 30% 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. Mixing Department Equivalent Units of Production 23 24 Sheet1 READY + 100% Attempt(s) Hint Show Me
Transcribed Image Text:Excel SIM: Process Costing using the Weighted-Average Method 1. Compute the equivalent units of production using the weighted average method. 2. Compute the cost per equivalent unit using the weighted average method. 3. Assign costs to units using the weighted average method. 4. Prepare a cost reconciliation report. 国日ら Process Costing using the Weighted-Average Method - Excel FILE НОМЕ INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 -A A % Paste BIU- Alignment Number Conditional Format as Cell Cells Formatting - Table Styles Clipboard Font Styles A11 fe Units started into production during the period A B C E 1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. 2 The following information relates to work in the mixing department for the month of July: 3 4 Work in process, July 1: Units in process 5 300 Percent completed with respect to materials Percent completed with respect to conversion Cost in the beginning inventory: 60% 7 40% 8 Materials cost $10,500 $6,750 9 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 6,200 13 Materials cost $332,150 14 Conversion cost $407,645 15 Work in process, July 31: 16 Units in process 450 Percent completed with respect to materials 18 Percent completed with respect to conversion 17 40% 30% 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. Mixing Department Equivalent Units of Production 23 24 Sheet1 READY + 100% Attempt(s) Hint Show Me
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