Hamilton Processing Company uses a weighted-average process cost system and manu
ID: 2534616 • Letter: H
Question
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.
HAMILTON PROCESSING COMPANY
Mixing and Cooking Department
Production Cost Report
For the Month Ended October 31
Equivalent Units
Quantities
Physical
Units
Materials
Conversion
Costs
22,400
168,000
190,400
134,400
56,000
190,400
Costs
Materials
Conversion
Costs
Total
$268,800
$117,600
$386,400
$33,600
352,800
$386,400
Costs accounted for
Transferred out
Work in process, October 31
Materials
Conversion costs
Total costs
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
Costs coversion total Materials costs Unit costs total costs 268,800 117,600 386,400 Equivalent units 168000 156800 Unit costs 1.6 0.75 2.35 costs to be accounted for Total work in process oct 1 33,600 Started intp production 352,800 Total costs 386,400 Cost recociliation Schedule cost accounted for Transferred out (134400*2.35) 315840 Work In process ,October 31 Materials (56000*60%*1.6) 53760 conversion costs (56000*40%*.75) 16800 70560 total costs 386400
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