Determine the total cost of ending work-in-process inventory and the total cost of units

Determine the total cost of ending work-in-process inventory

Please complete the below problems and submit your answers in the Week 3 Dropbox. See “Syllabus/Due Dates for Assignments & Exams” for due date information.

Resty Company manufactures a product that goes through two departments prior to completion: the Mixing Department and the Packaging Department. Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the Mixing Department finishes work on each product, it is immediately transferred to Packaging.

The following data are available for the Mixing Department for December 2014:

Required:

Assume that the Resty Company uses the weighted-average method of process costing.

a. Compute the equivalent units for December for the Mixing Department.

b. Determine the costs per equivalent unit for December for the Mixing Department.

c. Determine the total cost of ending work-in-process inventory and the total cost of units transferred to the Packaging Department.

d. Prepare a cost reconciliation report for the Mixing Department for December.

UnitsMaterialsConversion

Beginning, Work in Process50,00065%30%

Start into production380,000

Completed and transferred out405,000

Ending, Work in Process42,00055%20%

MaterialsConversion

Beginning, Work in Process49,540.00$ 19,400.00$

Costs added during December472,300.00$ 301,200.00$

Percent Completed

Sheet1

Percent Completed
Units Materials Conversion
Beginning, Work in Process 50,000 65% 30%
Start into production 380,000
Completed and transferred out 405,000
Ending, Work in Process 42,000 55% 20%
Materials Conversion
Beginning, Work in Process $ 49,540.00 $ 19,400.00
Costs added during December $ 472,300.00 $ 301,200.00
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