Page 1 of 1

URGENT - CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information

Posted: Thu May 19, 2022 3:27 pm
by answerhappygod
URGENT - CloverSweet Inc. manufactures a product that goes
through two departments prior to completion. The information shown
in the table below is available about work in the first department,
the Mixing Department, during June:
Required:
Assume that the company uses the FIFO method.
1. Determine the equivalent units for June
for the first process.
2. Compute the costs per equivalent unit
for June for the first process. (Round your answers to
3 decimal places.)
3. Determine the total cost of ending work
in process inventory and the total cost of units transferred to the
next process in June. (Round intermediate calculations
to 3 decimal places.)
4. Prepare a report that reconciles the
total costs assigned to the ending work in process inventory and
the units transferred out with the costs in beginning inventory and
costs added during the period. (Round
intermediate calculations to 3 decimal places.)