a) Refer to the data for the Mixing Department in Honeybutter, Inc., in Problem 4-14. Assume that the company uses the FIFO method rather than the weighted-average method in its process costing system.
In Problem 4-14, Honeybutter, 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.
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Required:
1. Determine the equivalent units for June for the Mixing Department.
2. Compute the costs per equivalent unit for June for the Mixing Department.
3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process for the Mixing Department in June.
4. Prepare a cost reconciliation report for the Mixing Department for June.