Problem 16-6A (Part Level Submission) Hamilton Processing Company uses a weighted average process co

 
   

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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) Your answer is correct. Prepare a schedule that shows how the equivalent units were computed so that you can complete the “Quantities: Units accounted for equivalent units section shown in the production cost report, and compute October unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) HAMILTON PROCESSING COMPANY Mixing and Cooking Department Production Cast Report For the Month Ended October 31 Equivalent Units Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, October 1 23,800 (all materials, 70% conversion costs) Started into production 178,500 Total units 202,300 Units accounted for Transferred out 142,800 142800 Work in process, October 31 (60% materials, 40% conversion costs) 59,500 1 T 23800 166600 Total units accounted for 202,300 Conversion Costs Costs Materials Total Unit costs Total Costs $285.600 $124.950 $410,550 Equivalent units 56600 Unit costs 2.35 Costs to be accounted for Work in process, October 1 Started into production Total costs $35,700 374,850 $410.550 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT (b) Complete the “Cost Reconciliation Schedule” part of the production cost report below. Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, October 31 Materials Conversion costs Total costs Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT