Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at...
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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 (11,300 units, 25% complete with respect to Finishing costs) Transferred-in costs (from Mixing) $ 136,510 Finishing conversion costs 11,085 Current work (100,600 units started) Mixing costs 1,016,060 Finishing costs 547,695 The ending inventory has 15,300 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs. Required: a. Complete the production cost report using the FIFO method. (Round "Cost per equivalent unit" to 2 decimal places.)
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