Please do not give solution in image format thanku Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only inthe Mixing Department. The following information is given for the Processing Department for August. Tl uses process costing.WIP Inventory Processing Department: August 1Quantity (60 complete)Transferred-in costs (from Mixing Department)Conversion costs (Processing Department)Total WIP cost: August 1current production and costs (August)Units startedCurrent costsTransferred-in costs (from Mixing Department)Conversion costs (Processing Department)Total current cost: AugustWIP Inventory Processing Department (August 31)Quantity (20% complete)Transferred-in costs (from Mixing Department)Conversion costs (Processing Department)Total WIP cost: August 31Required:Complete the production cost report for August using FIFO.Note: Round "Cost per equivalent unit" to 2 decimal places.28,000 units$ 34,58014,212$ 48,79275,000 units$ 86,02059,060$ 145,08013,000 units??2722 Flow of units:Units to be accounted for:Beginning WIP inventoryUnits started this periodTotal units to account forUnits accounted for:Completed and transferred outFrom beginning WIP inventoryMixingProcessingStarted and completed currentlyUnits in ending WIP inventoryMixingProcessingTotal units accounted forFlow of costs:Costs to be accounted for:Costs in beginning WIP inventoryCurrent period costsTotal costs to be accounted forCost per equivalent unitMixingProcessingCosts accounted for:Costs assigned to units transferred out:Costs from beginning WIP inventoryCurrent costs added to complete beginning WIP inventoryMixingProcessingCurrent costs of units started and completed:MixingProcessingTotal costs transferred outCost of ending WIP inventoryMixingProcessingTotal costs accounted forPhysicalUnits$$$Total00ProcessingMixingDepartment Department0 $Equivalent UnitsMixingDepartment0 $0 $0ProcessingDepartment0 $0 $00 $000

Name: Please do not give solution in image format thanku Terminal Industries
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only inthe Mixing Department. The following information is given for the

Operation costing method employed to determine the value of a product at each process or stage of…

Business

Accounting

Terminal Industries (Tl) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. Tl uses process costing. WIP Inventory Processing Department: August 1 Quantity (60% complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 1 Current production and costs (August) Units started Current costs Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total current cost: August WIP Inventory Processing Department (August 31) Quantity (20% complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 31 Required: Complete the production cost report for August using FIFO. Note: Round "Cost per equivalent unit" to 2 decimal places. 28,000 units $ 34,580 14,212 $ 48,792 75,000 units $ 86,020 59,060 $ 145,000 13,000 units ?? 77 22