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Problem 16-6A (Part Level Submission) Hamilton Processing Company uses a weighted-average process cost system and manufactures...

Problem 16-6A (Part Level Submission)

Hamilton Processing Company uses a weighted-average process cost system and manufactures a single product—an industrial carpet shampoo and cleaner used by many universities. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the Mixing and Cooking department is as follows.

               

Collapse question part

(a)

Partially correct answer.               Your answer is partially correct. Try again.

               

Prepare a schedule that shows how the equivalent units were computed so that you can complete the “Quantities: Units accounted for” equivalent units section shown in the production cost report, and compute October unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.)

HAMILTON PROCESSING COMPANY

Mixing and Cooking Department

Production Cost Report

For the Month Ended October 31

Equivalent Units

Quantities

Physical

Units

Materials

Conversion

Costs

Units to be accounted for

   Work in process, October 1

   (all materials, 70% conversion costs)

22,400

   Started into production

168,000

      Total units

190,400

                                                                                                                               

Units accounted for

   Transferred out

134,400

Entry field with correct answer

134,400

Entry field with correct answer

134,400

   Work in process, October 31

   (60% materials, 40% conversion costs)

56,000

Entry field with incorrect answer

22400

Entry field with incorrect answer

15680

      Total units accounted for

190,400

Entry field with incorrect answer

156800

Entry field with incorrect answer

150080

                                                                                                                               

Costs

Materials

Conversion

Costs

Total

Unit costs

   Total Costs

$268,800

$117,600

$386,400

   Equivalent units

Entry field with incorrect answer

156800

Entry field with incorrect answer

150080

   Unit costs

$Entry field with incorrect answer

1.71

$Entry field with incorrect answer

.78

$Entry field with incorrect answer

2.49

                                                                                                                               

Costs to be accounted for

   Work in process, October 1

$33,600

   Started into production

352,800

      Total costs

$386,400

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Expert Solution

HAMILTON PROCESSING COMPANY
Mixing and Cooking Department
Production Cost Report
For the Month Ended October 31
Equivalent Units
Physical Units Materials Conversion Costs
Units to be accounted for
Work in process, October 1 22400
(all materials, 70% conversion costs)
Started into production 168000
Total units 190400
Units accounted for
Transferred out 134400 134400 134400
Work in process, October 31 56000 33600 22400
(60% materials, 40% conversion costs)
Total units 190400 168000 156800
Materials Conversion Costs Total
Unit costs:
Total Cost 268800 117600 386400
Equivalent units 168000 156800
Unit costs 1.60 0.75 2.35
Costs to be accounted for
Work in process, October 1 33600
Started into production 352800
Total costs 386400
Cost Reconciliation Schedule
Costs accounted for
Transferred out 315840 =134400*2.35
Work in process, October 31
      Materials 53760 =33600*1.60
      Conversion costs 16800 70560 =22400*0.75
Total costs 386400

ekkarill92 answered 1 year ago
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