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Category > Accounting Posted 14 Aug 2017 My Price 12.00

Honeybutter, Inc

Problem 4–14 Comprehensive Problem—Weighted-Average Method [LO2, LO3, LO4, LO5]

Honeybutter, 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.

     

Physical

Percent Completed

Units to Account For:

Units

Materials

Conversion

BWIP

 

70,000

70%

40%

Units Started

 

460,000

   

Completed & T/O

450,000

   

EWIP

 

80,000

75%

25%

           

Costs to Account For:

 

Materials

Conversion

 

BWIP

   

$36,550

$13,500

 

Cost added during period

391,850

287,300

 

Required:

Assume that the company uses the weighted-average method.

  1. Determine the equivalent units for June for the Mixing Department.
  2. Compute the costs per equivalent unit for June for the Mixing Department.
  3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the Packaging Department.
  4. Prepare a cost reconciliation report for the Mixing Department for June.

Answers

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Status NEW Posted 14 Aug 2017 02:08 PM My Price 12.00

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