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Using the Report Template on the attached EXCEL worksheet, Complete XYZ Companys 2016 Production Cost Report (appearing below) for the mixing department, assuming the facts that appear below. The company uses a process cost system (Weighted-Average Method) for tracking costs. XYZ Manufacturing produces marine paint, which it sales in gallon containers. It uses a process costing system, an. There are two processing departmentsMixing, and Packaging. On January 1, 2016, the mixing department, had no beginning inventory. During the year, 30,000 gallons of paint were started in production. Of these, 25,000 gallons were completed and 5,000 gallons remained in process. Management estimates that the in-process units are approximately 80% complete. In the Mixing Department, all direct materials are added at the beginning of the production process. Labor and overhead costs are applied evenly through the process. During 2016, the Mixing Department incurred $45,000 in direct materials costs and $65,250 in labor costs, and $7,250 in overhead costs.

DEPARTMENTAL COSTS OF PRODUCTION REPORT Month: Dept: UNITS: PHYSICAL UNITS To Account For Beg. WIP New Units Transf. In) Total Units PHYSICAL UNITS EQUIVALENT UNITS Direct Materials Direct Labor Overhead Accounted For Transferred Out End. WIP Total Units COSTS: Direct Materials Direct Labor Overhead Total Costs $ $ $ $ Beginning Inventory Current Period Costs TOTAL PERIOD COSTS +Equivalent Units Cost Per Equivalent Unit Direct Materials Direct Labor Overhead Total Costs To Account For Beg. WIP Current Period Costs Total Costs Accounted For Units Completed & Transferred Out (Qty x $1 Ending Inventory (EqUx $) Total Costs

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