Hi im stuck here please help me by providing the answers to the empty cells and visual details that i can understand.
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the
WIP inventory-Finishing Beginning inventory1i,800 units, 30% complete with respect to Finishing costs) Transferred-in costs (from Mixing) Finishing conversion costs Current work (101,600 units started) Mixing costs Finishing costs
147,760 15,257
1,076,960 591,368
The ending inventory has 15,800 units, which are 50 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.
Required: a. Complete the production cost report using the FIFO method. (Round "Cost per equivalent unit" to 2 decimal places.)
Physical Units
Equivalent Units MixIng Finishing Department Department
Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed and transferred out From beginning WIP inventory Mixing Finishing Started and completed currently Units in ending WIP inventory Mixing Finishing Total units accounted for
11,800 101,600 113,400
97,600
97,600
97,600 o]
of 15,800
of
15,800
7,900| 105,500
113,400
15,800
Total
Mixing Department
Finishing Department
Flow of costs: Costs to be accounted for: Costs in beginning WIP inventory Current period costs Total costs to be accounted for Cost per equivalent unit Mixing Finishing Costs accounted for: Costs assigned to units transferred out: Costs from beginning WIP inventory Current costs added to complete beginning WIP inventory Mixing Finishing Current costs of units started and completed: Mixing Finishing Total costs transferred out Cost of ending WIP inventory Mixing Finishing Total costs accounted for
163,017 $ 1,668,328 1,831,345 S
147,760 $ 1,076,960 1,224,720 S
15,257 591,368 606,625
S
$
10.80
5.75
$0
os
0
o$
0
