Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at...
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Accounting
Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department):
| WIP inventoryFinishing | ||
| Beginning inventory (11,000 units, 30% complete with respect to Finishing costs) | ||
| Transferred-in costs (from Mixing) | $ | 130,000 |
| Finishing conversion costs | 11,250 | |
| Current work (100,000 units started) | ||
| Mixing costs | 980,000 | |
| Finishing costs | 508,500 | |
|
| ||
The ending inventory has 15,000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.
Required:
Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)
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