ANSWER ONLY THE HIGHLIGHTED PORTIONS!!! Yarmouth Company produces a liquid solve

Question

ANSWER ONLY THE HIGHLIGHTED PORTIONS!!!

Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department) WIP inventory-Finishing Beginning inventory (10,400 units, 20% complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (98,800 units started) Mixing costs Finishing costs S 117.520 3.980 908,980 445.984 The ending inventory has 14,400 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs

Explanation / Answer

Total Mixing Finishing Flow of cost Cost to be accounted for: Cost of Beginning WIP 121500 117520 3980 Current period cost 1354944 908960 445,984 Total cost to be accounted for 1476444 1026480 449,964 Cost per equivalennt unit Mixing 9.2 Finishing 4.4 Cost accounted for: Cost assigned to units transferred out: Cost from beginning WIP 121500 117520 3980 Current cost 36608 Mixing 0 Finishing 36608 Current cost of Units started and completed 1147840 Mixing 776480 Finishing 371360 Total cost of transferred out 1305948 894000 411948 Cost of Ending Wip 170496 Mixing 132480 Finishing 38016 Total cost accounted for 1476444 1026480 449964

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