Question 4: Rahmahs Victorian Chips Company produces special spicy chips from potato, wheat and corn...
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Accounting
Question 4: Rahmahs Victorian Chips Company produces special spicy chips from potato, wheat and corn from produced locally in Victoria State, Australia. The company uses the weighted-average method in its process costing system. Data for November for the Mixing department follow:
Percent Completed
Units
Mixing
Materials
Conversion
Work in process inventory, November 1
1
100%
90%
80%
Work in process inventory, November 30
1
100%
80%
70%
Mixing
Materials
Conversion
Work in process inventory, November 1
$1,670
$90
$605
Cost added during November
$81,460
$6,006
$42,490
During November, 50 batches (i.e., units) were completed and transferred to the Department.
Required:
4A): Determine the equivalent units for September for mixing, materials, and conversion. Do not round off your computations. [ 2 Marks ]
4B): Compute the costs per equivalent unit for September for mixing, materials, and conversion. [ 2 Marks ]
4C): Determine the total cost of ending work in process inventory and the total cost of units transferred to the Department in November. [ 2 Marks ]
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