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. Du Pont Corporation uses Weighted Average process Costing in its paint mixing department. Materials are...

. Du Pont Corporation uses Weighted Average process Costing in its paint mixing department. Materials are introduced at various points during work in the Mixing Department. After the cooking is completed, the materials are transferred into the Packaging Department, in which the paint is packaged.

Selected data relating to the Mixing Department during May are:

            Production data:

                        Gallons in process May 1: materials 0%

                        complete; conversion 0% complete……………………     900,000

                        Gallons started into production in May………………….   590,000

                        Gallons completed and transferred to Packaging……… 820,000

                        Gallons in process, May 31: materials 50%

                        complete, conversion 75% complete…………………….. 670,000

            Cost data:

                Work in process inventory, May 1;

                        Materials cost…………………………………………... $1,112,000

                       

                        Conversion cost……………………………………. ….    $560,000      

               Costs added during May;

            Materials...………………………….………………………..   $610,000

            Conversion cost………………………………………………. $350,750

Required: prepare a Production Report for the Cooking department for the month of May. Include:

Units to account for

Equivalent units

Dollar amounts to account for

Cost per equivalent unit, rounded to the nearest cent; and

Total cost reconciliation for the department.

Weighted-Average Method

1. Units to account for:

         Beginning Work in Process

       

         Units started into production

     ________

         Total units to account for

    

2

Equivalent Units of Production

Materials

Conversion

Transferred to next department................

Ending work in process:

Materials:           units x     % complete..

_______

Conversion:        units x     % complete..

   _________

Equivalent units of production..................

                  

   

3

Cost per Equivalent Unit

Materials

Conversion

Cost of beginning work in process.........

Cost added during the period................

_________

_________

Total cost (a).......................................

Equivalent units of production (b)..........

_________

_________

4

Cost per equivalent unit, (a) ÷ (b).........

5. Costs assigned to the Cooking Department:

                           

                                Materials            Conversion Cost         Total

Transferred out:                                                         =

Work in Process          _________         ________           =

Total                                                                          =     

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Expert Solution

ekkarill92 answered 1 year ago
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