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Need to check my answers. Answer with steps and terminology please!
Arsenio Company manufactures a single product that goes through two processes, mixing and cooking. The following data pertain to the mixing department for August: Material X is added at the beginning of work in the mixing department. Material Y is also added in the mixing department, but not until units are 80% complete with regard to conversion. Conversion costs are incurred uniformly during the process. The company uses the weighted-average cost method. Required: 1. \& 2. Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department. 3. Calculate the cost of units transferred out. 4. Calculate the cost of the ending Work-in-Process Inventory. Complete this question by entering your answers in the tabs below. Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department. (Round "Cost per Equivalent Unit" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Calculate the cost of the ending Work-in-Process Inventory. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Calculate the cost of units transferred out. (Do not round intermediate calculations.)
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Arsenio Company manufactures a single product that goes through two processes, mixing and cooking. The following data pertain to the mixing department for August: Material X is added at the beginning of work in the mixing department. Material Y is also added in the mixing department, but not until units are 80% complete with regard to conversion. Conversion costs are incurred uniformly during the process. The company uses the weighted-average cost method. Required: 1. \& 2. Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department. 3. Calculate the cost of units transferred out. 4. Calculate the cost of the ending Work-in-Process Inventory. Complete this question by entering your answers in the tabs below. Calculate the equivalent units and costs per equivalent unit of material X, material Y, and conversion for the mixing department. (Round "Cost per Equivalent Unit" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Calculate the cost of the ending Work-in-Process Inventory. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Calculate the cost of units transferred out. (Do not round intermediate calculations.)
