Du Pont Corporation uses Weighted Average process Costing in its paint mixing department. Materials are...
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Accounting
Du Pont Corporation uses Weighted Average process Costing in its paint mixing department. Materials are introduced at various points during work in the Mixing Department. After the mixing is completed, the materials are transferred into the Packaging Department, in which the paint is packaged.
Selected data relating to the Mixing Department during May are:
Production data:
Gallons in process May 1: materials 0%
complete; conversion 0% complete 900,000
Gallons started into production in May. 590,000
Gallons completed and transferred to Packaging 820,000
Gallons in process, May 31: materials 50%
complete, conversion 75% complete.. 670,000
Cost data:
Work in process inventory, May 1;
Materials cost... $1,112,000
Conversion cost. . $ 560,000
Costs added during May;
Materials...... $ 610,000
Conversion cost. $ 350,750
Required: Using the Weighted-average method of process costing, prepare a production report for the mixing department for the month of May.
Include:
Units to account for
Equivalent units
Dollar amounts to account for
Cost per equivalent unit, rounded to the nearest cent; and
Total cost reconciliation for the department.
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