Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at...
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Accounting
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department):
WIP inventoryFinishing
Beginning inventory (10,800 units, 20% complete with respect to Finishing costs)
Transferred-in costs (from Mixing)
$
125,760
Finishing conversion costs
5,144
Current work (99,600 units started)
Mixing costs
956,160
Finishing costs
491,136
The ending inventory has 14,800 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.
Required:
Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
Physical Units Equivalent Units Mixing Finishing nt Department Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period 10,800 99,600 110,400 Total units to account for Units accounted for Completed and transferred out Units in ending inventory Mixing Finishing Total units accounted for
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