Firenze Inc manufactures a product that goes through two dep

Firenze, Inc., manufactures a product that goes through two departments prior to completion—the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June.

Percent Completed

Compute the costs per equivalent unit for June for the Mixing Department. (Round your answers to 2 decimal places.)

Determine the total cost of ending work in process inventory and the total cost of units transferred to the Packaging Department. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.)

Prepare a cost reconciliation report for the Mixing Department for June. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.)

Firenze, Inc., manufactures a product that goes through two departments prior to completion—the Mixing Department followed by the Packaging Department. The following information is available about work in the first department, the Mixing Department, during June.

Solution

UNITS TO ACCOUNT FOR: Beginning Work in Process units 46,000 Add: Units Started in Process 248,000 Total Units to account for: 294,000 UNITS TO BE ACCOUNTED FOR: Units started and completed 238,000 Ending Work in Process 56,000 Total Units to be accounted for: 294,000 Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units started and completed 100% 238,000 100% 238,000 Ending Work in Process 75% 42,000 25% 14,000 Total Equivalent units 280,000 252,000 TOTAL COST TO ACCOUNT FOR: Material Conversion Beginning work in Process 15,100 4,400 Cost Added during May 161,300 93,880 Total Cost to account for: 176,400 98,280 Total Cost to account for: 274,680 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 176,400 98,280 Equivalent Units 280,000 252,000 Cost per Equivalent unit 0.63 0.39 TOTAL COST ACCOUNTED FOR: Units started and Transferred out (238000 units) Equivalent unit Cost per EU Total Cost Material 238,000 0.63 149940 Conversion Cost 238,000 0.39 92820 Total Cost of Units completed and transferred out: 242760 Ending Work in process (56,000 units) Equivalent unit Cost per EU Total Cost Material 42,000 0.63 26460 Conversison Cost 14,000 0.39 5460 Total cost of Ending Work in process: 31,920 Req 1 Equivalent units: Material: 280000 Conversion:252000 Req 2: Cost per equivalent unit: Mmaterial: 0.63 per unit Conversion: 0.39 per unit Req 3: Cost of Ending WIP: 31920 Cost of Goods transferred out: 242760 Req 4: Total c ost to be accounted for: Beginning Inventory cost (15100+4400) 19500 Cost added during the period (161300+93880) 255180 Total cost to be accounted for: 274680