Assignent: Process Costing- Cost Accounting
You Got Yogurt, Inc. manufactures yogurt that goes through three processing stages prior to completion. Information on work in the first department, flavor identification and blending, is given below for November:
Data on Production:
Pounds in process at November 1; materials 100% complete; conversion 70% complete 3,525
Pounds started into production during November 75,000
Pounds completed and transferred out ?
Pounds in process, November 30; materials 85% complete; conversion 40% complete 6,100
Data on Costs:
Work in process inventory, November 1: Materials cost $1,800
Conversion cost $3,700
Cost added during November: Materials cost $121,000
Conversion cost $147,700
The company uses the weighted-average method.
Submit your assignment as an Excel spreadsheet document, clearly organized, with each tab or section labeled by item number that demonstrates the following:
1. Compute the equivalent units of production.
2. Compute the costs per equivalent unit for the month.
3. Determine the cost of ending work in process inventory and of the units transferred out to the next department.
4. Prepare a cost reconciliation schedule for the month. Below the schedule, comment on what the cost reconciliation schedule tells us about the company's costs.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.