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.
| |
Percent Completed
|
| |
Units |
Materials |
Conversion |
| Work in process, beginning |
106,000 |
70% |
40% |
| Started into production |
503,000 |
|
|
| Completed and transferred out |
493,000 |
|
|
| Work in process, ending |
116,000 |
75% |
25% |
| |
Materials |
Conversion |
| Work in process, beginning |
$ |
45,500 |
$ |
16,900 |
| Cost added during June |
$ |
488,100 |
$ |
358,940 |
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. (Round your answers to 2 decimal places.)
3. 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.)
4. 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.)