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. Units Materials Percent Completed Conversion Percent Completed Work in process, 98,000 70% 40% beginning Started into production 469,000 Completed and 459,000 transferred out Work in process, ending Costs: 108,000 75% 25% Work in process, beginning Cost added during June 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. Units Materials Percent Completed Conversion Percent Completed Work in process, 98,000 70% 40% beginning Started into production 469,000 Completed and 459,000 transferred out Work in process, ending Costs: 108,000 75% 25% Work in process, beginning Cost added during June 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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