Question

A1 for Hayword, Inc. uses weighted average costing and has two departments - mixing E > 9 А B с D 1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. 2 The following information relates to work in the mixing department for the month of July: 3 4 Work in process, July 1: 5 Units in process 300 6 Percent completed with respect to materials 60% 7 Percent completed with respect to conversion 40% 8 Cost in the beginning inventory: Materials cost $10,500 10 Conversion cost S6,750 11 Units started into production during the period 6.200 12 Costs added to production during the period: 13 Materials cost $330,912 14 Conversion cost $406,408 15 Work in process, July 31: 16 Units in process 450 17 Percent completed with respect to materials 40% 18 Percent completed with respect to conversion 19 20 Use the data to answer the following. 21 22 1. Compute equivalent units. 23 Mixing Department 24 Equivalent Units of Production Sheet1 30%

Answer 1

Answer

   Mixing Department

Production cost report-weighted average method

1 physical unit

Particulars	units
Beginning work in process	300
Units started	6,200
Total units to be accounted	6,500
Units completed	6,050
Ending work in process	450
Total units to be accounted	6,500

2 Equivalent units

	Direct material	Conversion cost
Units completed	6,050	6,050
Ending work in process	180	135
Equivalent units	6,230	6,185

Calculation of equivalent units

Direct material = 450 × 40% = 180 units

Conversion cost = 450 × 30% = 135 units

3 Cost per equivalent units

	Direct material	Conversion cost
Total cost to be accounted	341,412	413,158
÷ Equivalent units	6,230	6,185
Cost per equivalent units	54.80	66.8

Calculations

Total cost in material = 10,500 + 330,912 = $341,412

Total cost in Conversion = 6,750 + 406,408 = $413,158

Cost per equivalent unit of material

= 341,412 / 6,230 = $54.80

Cost per equivalent unit of conversion cost

= 413,158 / 6,185 = $66.8

4 Cost of work in process inventory and unit transferred out

	Direct material	Conversion cost	Total
Ending work in process inventory:
Equivalent unit of production	180	135
Cost per equivalent unit	54.80	66.8
Cost of ending work in process inventory	9,864	9,018	18,882
Units completed and transferred out:
Units transferred to next process	6,050	6,050
Cost per equivalent units	54.80	66.8
Cost of units transferred out (completed)	331,540	404,140	735,680

Cost of Ending work in process

= (180 × 54.80) + (135 × 66.8) = $18,882

Cost per equivalent unit of Unit completed and transferred out

= (6,050 × 54.80) + (6050 × 66.8) = $735,680

5 Mixing Department cost reconciliation

Cost to be accounted for:
Cost of beginning work in process	17,250
Cost added to production	737,320
Total cost to be accounted for	754,570
Cost of units transferred out	735,680
Cost of Ending work in process	18,882
Total cost to be accounted for	754,570

The above are the detailed presentations of production cost report under weighted average method of Mixing Department. Total cost of units transferred out is $735,680 and ending work in process inventory is $18,882.

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Answer 2

5) 330,912+406,408= 737,320

10,500+6750= 17,250