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 (11,000 units, 30% complete with respect to Finishing costs)
Transferred-in costs (from Mixing)
$
130,000
Finishing conversion costs
11,250
Current work (100,000 units started)
Mixing costs
980,000
Finishing costs
508,500
The ending inventory has 15,000 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.)
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