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

Question

ANSWER THE HIGHLIGHTED PORTIONS ONLY!!!

Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following nformation for Finishing operations for February (no new material is added in the Finishing Department): WIP inventory-Finishing Beginning inventory (10,300 units, 25% 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 115,510 9,295 897.260 436.370 The ending inventory has 14,300 units, which are 50 percent complete with respect to Fishing Department costs and 100 percent complete for Mixing Department costs.

Explanation / Answer

Answer

particulars total mixing department finishing department flow of costs costs to be accounted for cost of beginning WIP inventory 124805 115510 9295 current period costs 1334630 897260 437370 total cost to be accounted for 1459435 1012770 446665 cost per equivalent unit prior department 9.30 department T 4.39 costs accounted for costs assigned to units transferred out 1295057 879780 415277 costs of ending WIP inventory 164378 132990 31388 total costs accounted for 1459435 1012770 446665

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