Schroeder Baking Corporation uses a process costing system inits large-scale baking operations. The Mixing Department is one ofthe company’s processing departments. In the Mixing Department inJuly, the cost of beginning work in process inventory was $4,280,the cost of ending work in process inventory was $3,870, and thecost added to production was $46,360.
Required:
Prepare a cost reconciliation report for the Mixing Departmentfor July.
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| | Mixing Department | | Cost Reconciliation | | Costs to be accounted for: | | | | | | | Total cost to be accounted for | $0 | | Costs accounted for as follows: | | | | | | | Total cost accountedfor | $0 |
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Superior Micro Products uses the FIFO method in its processcosting system. Data for the Assembly Department for May appearbelow:
| Materials | Labor | Overhead |
| Cost added during May | $ | 64,625 | $ | 34,435 | $ | 90,695 |
| Equivalent units of production | | 12,500 | | 9,700 | | 9,700 |
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Required:
Compute the cost per equivalent unit for materials, labor,overhead, and in total. (Round your answers to 2 decimalplaces.)
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| | Materials | Labor | Overhead | Total | | Cost per equivalentunit | | | | |
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