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Terminal Industries (TI) produces a product using three departments: Mixing. Processing, and Filtering. New material...

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Accounting

Terminal Industries (TI) produces a product using three departments: Mixing. Processing, and Filtering. New material is added only the Mixing Department. The following information is given for the Processing Department for August. Tl uses process costing.
Required:
a. Complete the production cost report for August using the weighted-average method. Note: Round "Cost per equlvalent unit" to 2 declmal places.
\table[[Flow of units:,Physical Units,Equivalent Units],[\table[[Mixing],[Department]],\table[[Processing],[Department]]],[,,],[Units to be accounted for:],[Beginning WIP inventory,30,500,,],[Units started this period,77,500,,],[Total units to account for,108,000,,],[Units accounted for],[Completed and transferred out],[Units in ending inventory],[Mixing],[Processing],[Total units accounted for],[,Total,\table[[Mixing],[Department]],\table[[Processing],[Department]]],[Flow of costs:],[Costs to be accounted for:],[Costs in beginning WIP inventory],[Cument period costs],[Total costs to be accounted for,,5,5],[Cost per equivalent unit],[Mixing],[Prooessing],[Costs accounted for:],[Costs assigned to units transferred out],[Costs of ending WiP inventory],[Total costs accounted for,$,0,$,5]]
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