FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The Mixing Department of Yummy Foods had 60.000 equivalent units of materials for October. Of the 60,000 units, 20,000 units were completed and transferred to the next department, and 40.000 units were 50% complete. Yummy Foods's costs per equivalent unit of production are $0.70 for direct materials and $0.45 for
conversion costs. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the process and the company uses the weighted-average method.
Calculate the cost of the 20,000 units completed and transferred out and the 40,000 units, 50% complete, in the ending Work-in-Process Inventory.
Yummy Foods
Production Cost Report - Mixing Department (Partial)
Month Ended October 31
Direct
Conversion
Total
COSTS
Materials
Costs
Costs
Costs accounted for:
Completed and transferred out
Ending work-in-process
Total costs accounted for
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Transcribed Image Text:The Mixing Department of Yummy Foods had 60.000 equivalent units of materials for October. Of the 60,000 units, 20,000 units were completed and transferred to the next department, and 40.000 units were 50% complete. Yummy Foods's costs per equivalent unit of production are $0.70 for direct materials and $0.45 for conversion costs. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the process and the company uses the weighted-average method. Calculate the cost of the 20,000 units completed and transferred out and the 40,000 units, 50% complete, in the ending Work-in-Process Inventory. Yummy Foods Production Cost Report - Mixing Department (Partial) Month Ended October 31 Direct Conversion Total COSTS Materials Costs Costs Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for
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