Problem 16-6A (Part Level Submission) Hamilton Processing Company uses a weighte
ID: 2391397 • Letter: P
Question
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.
(a)
HAMILTON PROCESSING COMPANY
Mixing and Cooking Department
Production Cost Report
For the Month Ended October 31
Equivalent Units
Quantities
Physical
Units
Materials
Conversion
Costs
24,200
181,500
205,700
145,200
60,500
205,700
Costs
Materials
Conversion
Costs
Total
$290,400
$127,050
$417,450
$36,300
381,150
$417,450
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(b)
Costs accounted for
Transferred out
Work in process, October 31
Materials
Conversion costs
Total costs
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.
Explanation / Answer
a) Production cost report :
b) Cost reconciliaiton :
Work in process, October 31
Equivalent unit Quantity Physical unit Material Conversion cost Units to be accounted for Work in process, October 1(all materials, 70% conversion costs) 24200 Started into production 181500 Total units 205700 Units accounted for Transferred out 145200 145200 145200 Work in process, October 31
(60% materials, 40% conversion costs) 60500 36300 24200 Total units 205700 181500 169400 Costs Material Conversion cost Total Unit Cost Total cost 290400 127050 417450 Equivalent unit 181500 169400 Unit cost 1.60 0.75 2.35 Costs to be accounted for Work in process, October 1 36300 Started into production 381150 Total cost 417450