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. Work in process, beginning Started into production Completed and transferred out Work in process, ending Costs: Work in process, beginning Cost added during June Units Materials Percent Completed Conversion Percent Completed 98,000 70% 40% 469,000 459,000 108,000 75% 25% Materials Conversion $40,100 $429,700 $14,600 $311,020 1. Determine the equivalent units of production for June for the Mixing Department 2. Compute the costs per equivalent unit for June for the Mixing Department 3. Determine the cost of ending work in process inventory and the total cost of units 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. Work in process, beginning Started into production Completed and transferred out Work in process, ending Costs: Work in process, beginning Cost added during June Units Materials Percent Completed Conversion Percent Completed 98,000 70% 40% 469,000 459,000 108,000 75% 25% Materials Conversion $40,100 $429,700 $14,600 $311,020 1. Determine the equivalent units of production for June for the Mixing Department 2. Compute the costs per equivalent unit for June for the Mixing Department 3. Determine the cost of ending work in process inventory and the total cost of units transferred to the Packaging Department. 4. Prepare a cost reconciliation report for the Mixing Department for June.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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.
Work in process,
beginning
Started into production
Completed and
transferred out
Work in process, ending
Costs:
Work in process, beginning
Cost added during June
Units
Materials Percent
Completed
Conversion Percent
Completed
98,000 70%
40%
469,000
459,000
108,000 75%
25%
Materials Conversion
$40,100
$429,700
$14,600
$311,020
1. Determine the equivalent units of production for June for the Mixing Department
2. Compute the costs per equivalent unit for June for the Mixing Department
3. Determine the cost of ending work in process inventory and the total cost of units
transferred to the Packaging Department.
4. Prepare a cost reconciliation report for the Mixing Department for June.
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