1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
svetoff [14.1K]
3 years ago
10

Hayword, Inc. uses weighted-average costing and has two departments and has provided data related to its mixing department for t

he month of July. The Controller has asked you prepare a cost reconciliation report and provide the related computations. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.
1 Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging 2 The following information relates to work in the mixing department for the month of July: 4 Work in process, July 1: 5 Units in process 6 Percent completed with respect to materials 7 Percent completed with respect to conversion 8 Cost in the beginning inventory: 9 Materials cost 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period 13 Materials cost 14 Conversion cost 15 Work in process, July 31: 16 Units in process 17 Percent completed with respect to materials 18 Percent completed with respect to conversion 19 20 Use the data to answer the following 21 22 1. Compute equivalent units. 23 24 25 26 Units transferred to the next department 27 Ending work in process: 28 Materials 29 Conversion 30 Equivalent units of production 31 300 60% 40% $10,500 $6,750 6,200 $330,912 $406,408 450 40% 30% Mixing Department Equivalent Units of Production Materials Conversion
Business
1 answer:
uranmaximum [27]3 years ago
7 0

Answer:

Hayword, Inc.

Cost Reconciliation Report

Costs to be accounted for:

Cost in the beginning inventory        $17,250

Units started during the period        737,320

Total cost of production                 $754,570

Costs accounted for:

Units transferred out                    $735,680

Ending inventory                              $18,882

Total assigned costs                  $$754,562

Difference due to approximations = $8

Explanation:

a) Data and Calculations:

Work in process, July 1:

Units in process = 300

Percent completed with respect to materials = 60%

Percent completed with respect to conversion = 40%

Cost in the beginning inventory:

Materials cost = $10,500

Conversion cost = $6,750

Units started during the period = 6,200

Costs added during the period:

Material costs = $330,912

Conversion costs = $406,408

Work in process, July 31 = 450 units

Percent completed with respect to materials =  40%

Percent completed with respect to conversion 30%

                                                       Units

Beginning inventory                       300

Units started during the period  6,200          

Total units under production      6,500

Ending inventory                            450

Units transferred out                  6,050

Cost of production:

                                                      Materials cost   Conversion cost   Total

Cost in the beginning inventory       $10,500               $6,750       $17,250

Units started during the period         330,912             406,408      737,320

Total cost of production                   $341,412             $413,158   $754,570

Equivalent Units:

                                                       Units   Materials         Conversion

Units transferred out                  6,050    6,050 (100%)   6,050 (100%)

Ending inventory                            450        180 (40%)         135 (30%)

Total equivalent units of production       6,230                6,185

Cost per equivalent unit:

                                                     Materials         Conversion

Total cost of production              $341,412             $413,158

Total equivalent units                      6,230                   6,185

Cost per equivalent unit               $54.80                $66.80

Cost assigned to:

                                                     Materials         Conversion         Total

Units transferred out                  $331,540           $404,140       $735,680

                                        (6,050 * $54.80)  (6,050 * $66.80)

Ending inventory                              9,864                  9,018          $18,882

                                           (180 * $54.80)     (135 * $66.80)

Total assigned costs                  $341,404            $413,158       $754,562

You might be interested in
A person is overweight (350 pounds) and desires to lose 10% of his body weight over 6 months. what is the total kcalorie intake
snow_tiger [21]

Total caloric restriction over 6 moths:

10%*350 pounds = 35 pounds.

35 pounds * 3,500 calories per pound = 122,500 total calories.

------------------------------------

If weigh loss period is 27 weeks, divide by total number of weeks:

122,500 calories/ 27 weeks = 4537 calories per week

and by number of days (27 weeks= 189 days)

122,500/189 = 648 calories per day

5 0
3 years ago
At​ ch2m hill, dan​ anderson, planning project​ manager, suggests that in a flat structure like​ theirs, at times project manage
belka [17]
The style of leadership that most directly aligned with this behavior is SUPPORTIVE.
A supportive leadership style is one which seeks to reduce the employees' stress and frustration at the work place by motivating them. This style is especially effective, if the type of work that the employees are undertaking is stressful, dangerous and tasking. 
4 0
3 years ago
If the span of management is wide, _______ levels are needed, and the organization is _______. If the span of management is narr
creativ13 [48]

Answer:

If the span of management is wide, <u>Fewer</u> levels are needed, and the organization is <u>Flat</u>. If the span of management is narrow, <u>More</u> levels are needed, and the resulting organization is <u>Tall</u>.

Explanation:

Span of control is the number of personals working under a single Designation.

If their are greater number of employees working under a single designation then the hierarchy chart is wider in length, that's the reason we also say that the organization is flat. Due to these increased number of employees working under single designation, there is lower number of levels in such organization. It is also one of the main reason the employees turnover is very high because there are fewer chances of promotion in flat organizations. The number of candidates for the promotion are higher in the organization.

On the other hand, if their are lower number of employees working under a single designation then the hierarchy chart is taller in length, that's the reason we also say that the organization is flat. Due to these lower number of employees working under single designation, there is higher number of levels required in such organizations. It is also one of the main reason the employees turnover is very low because there are higher chances of promotion in tall organizations. The number of candidates for the promotion are fewer in the organization.

8 0
3 years ago
Trago Company manufactures a single product and has a JIT policy that ending inventory must equal 20% of the next month's sales.
Colt1911 [192]

Answer:

The number of units that would appear in June's production budget are 297000 units.

Explanation:

The production in June will contain 80% units that relates to June's budgeted sales and 20% units that relate to July's budgeted sales. Thus, the number of units that are to be produced in June are:

June's Production = 0.8 * 295000 + 0.2 * 305000 = 297000 units

Thus, in June, 297000 units will be produced.

3 0
3 years ago
Read 2 more answers
A national grocery chain is divided into well-demarcated groups such as the Northeastern division, the Northwestern division, th
pochemuha

Based on the fact that the divisions of this national grocery chain are set up in such a way that they can serve different locations, this is a<u> geographic structure.</u>

<h3>What is a geographic structure?</h3>

This is a departmentalization style where a company creates divisions in various areas to service their customers located in those places.

This is what this national grocery chain is doing by setting up divisions in various areas to access their customers around the country.

Find out more on the departmentalization at brainly.com/question/15052404.

#SPJ12

5 0
2 years ago
Other questions:
  • Ruby is 25 and has a good job at a biotechnology company. She currently has $11,400 in an IRA, an important part of her retireme
    11·1 answer
  • The minimum insurance required is ______ for personal injury or death to any one person, ______ for death or injury to more than
    12·1 answer
  • If sales units exceeds the break-even point in units, the firm will experience
    12·1 answer
  • Regarding the major trading partners of the United States A. the top 10 accounted for nearly 50 percent of total U.S. goods expo
    7·1 answer
  • The following information has been provided to you by Watts Corporation: Net income $ 175,300 Increase in accounts payable 18,50
    13·1 answer
  • Assume the spot rate for the British pound currently is £.6369 per $1. Also assume the one-year forward rate is £.6421 per $1. A
    15·1 answer
  • Roose, Inc. reported revenue of $92 million and incurred total expenses of $84 million. The total expenses included cost of good
    15·1 answer
  • If businesses follow regulations, financial disasters are far less likely.
    14·1 answer
  • Accents Associates sells only one product, with a current selling price of $130 per unit. Variable costs are 60% of this selling
    9·1 answer
  • The ____ team is responsible for providing any needed supplies, space, materials, food, services, or facilities needed at the pr
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!