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.
|
|
Percent Completed
|
|
Units |
Materials |
Conversion |
| Work in process, beginning |
50,000 |
70% |
40% |
| Started into production |
265,000 |
|
|
| Completed and transferred out |
255,000 |
|
|
| Work in process, ending |
60,000 |
75% |
25% |
|
|
Materials |
Conversion |
| Work in process, beginning |
$ |
16,600 |
$ |
5,000 |
| Cost added during June |
$ |
178,400 |
$ |
105,700 |
|
| Required: |
| Assume that the company uses the weighted-average method. |
| 1. |
Determine the equivalent units for June for the Mixing Department. |
|
Materials |
Conversion |
| Equivalent units of production |
|
|
|
| 2. |
Compute the costs per equivalent unit for June for the Mixing Department.(Round your answers to 2 decimal places.)
|
|
Materials |
Conversion |
| Cost per equivalent unit |
$ |
$ |
|
| 3. |
Determine the total cost of ending work in process inventory and the total cost of units transferred to the Packaging Department. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.)
|
|
Total |
| Cost of ending work in process inventory |
$ |
| Cost of units completed and transferred out |
$ |
|
| 4. |
Prepare a cost reconciliation report for the Mixing Department for June. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.)
|
| Cost Reconciliation |
| Costs to be accounted for: |
|
| (Click to select)Cost of ending work in process inventoryCost of units completed and transferred outCost of beginning work in process inventory |
$ |
| (Click to select)Cost of units completed and transferred outCost of ending work in process inventoryCosts added to production during the period |
|
|
|
| Total cost to be accounted for |
$ |
|
|
| Costs accounted for as follows: |
|
| (Click to select)Cost of beginning work in process inventoryCosts added to production during the periodCost of ending work in process inventory |
$ |
| (Click to select)Cost of units completed and transferred outCost of beginning work in process inventoryCosts added to production during the period |
|
|
|
| Total cost accounted for |
$ |
|
|
|