Process Costing

Anonymous
timer Asked: Oct 22nd, 2018
account_balance_wallet $9.99

Question Description

You Got Yogurt, Inc. manufactures yogurt that goes through three processing stages prior to completion. Information on work in the first department, flavor identification and blending, is given below for November:

Data on Production:

Pounds in process at November 1; materials 100% complete; conversion 70% complete

3,525

Pounds started into production during November

75,000

Pounds completed and transferred out

?

Pounds in process, November 30; materials 85% complete; conversion 40% complete

6,100

Data on Costs:

Work in process inventory, November 1:
Materials cost

$1,800

Conversion cost

$3,700

Cost added during November:
Materials cost

$121,000

Conversion cost

$147,700

The company uses the weighted-average method.

Submit your assignment as an Excel spreadsheet document, clearly organized, with each tab or section labeled by item number that demonstrates the following:

  1. Compute the equivalent units of production.
  2. Compute the costs per equivalent unit for the month.
  3. Determine the cost of ending work in process inventory and of the units transferred out to the next department.
  4. Prepare a cost reconciliation schedule for the month. Below the schedule, comment on what the cost reconciliation schedule tells us about the company’s costs.

Responses should be in complete sentences utilizing proper grammar. Your paper must be formatted according to CSU-Global Guide to Writing and APA Requirements (Links to an external site.)Links to an external site.. Reference Lynda.com in the CSU-Global Library (Links to an external site.)Links to an external site. for Microsoft Excel tutorials if assistance is needed.

Review the Module 3 Critical Thinking Rubric for full details on how you will be graded on this assignment.

Tutor Answer

Tutorlamb
School: New York University

Attached.

You Got Yogurt, Inc.
Materials
Units
% of completion Equivalent Units
3,525
75,000
78,525

Particulars
Work in procress, November 1
Units started during November
Total Units accounted for
Units completed and transferred
work in process, November 30
Total units accounted for

72,425
6,100
78,525

100%
85%

72,425
5185
77,610

total units available...

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Review

Anonymous
Goes above and beyond expectations !

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