Transferred-In Cost Powers Inc. produces a protein drink. The product is sold by the gallon....
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Accounting
Transferred-In Cost
Powers Inc. produces a protein drink. The product is sold by the gallon. The company has two departments: Mixing and Bottling. For August, the bottling department had 64,400 gallons in beginning inventory (with transferred-in costs of $283,000) and completed 201,000 gallons during the month. Further, the mixing department completed and transferred out 246,000 gallons at a cost of $634,000 in August.
Required:
1. Prepare a physical flow schedule for the bottling department.
Powers Inc.
Physical Flow Schedule - Bottling Department
For the Month of August
Physical flow schedule:
Units in beginning work in process
Units started during the period
Total units to account for
Units completed and transferred out:
Units started and completed
Units completed from beginning work in process
Units in ending work in process
Total units accounted for
2. Calculate equivalent units for the transferred-in category. equivalent units
3. Calculate the unit cost for the transferred-in category. If required, round your answer to the nearest cent. $per unit
Answer & Explanation
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