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Chapter 8 Homework 3 ...

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Accounting

Chapter 8 Homework 3
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Yarmouth Company produces a liquid solvent in two departments Modng and Finishing Accounting records at Yarmouth show the tollowing information for Fineshing material is added in the Finishing Departmenty operations for February (no new WIP Inventory Begining inventory (10.500 uit,20% complete with respect to Fini hing costs) Transferred-in costs (rom Moing) Finishing conversion costs Current work (99,000 units starled Moing costs Finishing costs 119,550 7,615 920,700 460.690 The ending inventory has 14,500 unts, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs Required: a. Complete the production cost report using the FIFO method (Round "Cost per equivalent unit" to 2 decimal places Mixing Flow of units Units to be accounted for Beginning WIP inventory Units started this period Total units to account for Units accounted for Completed and transfered out From beginning WIP inventory Mixing

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