Maple, Inc. manufactures syrup that goes through three processing stages prior to completion. Information on work in the first department, blending, is given below for August:
Pounds in process, August 1; materials 100% complete; conversion 70% complete
Pounds started into production during August
Pounds completed and transferred out
Pounds in process, August 31; materials 80% complete; conversion 30% complete
Work in process inventory, August 1:
Cost added during May:
The company uses the weighted-average method.
Submit an Excel document, with each tab labeled by item number, which demonstrates the following:
- Compute the equivalent units of production.
- Compute the costs per equivalent unit for the month.
- Determine the cost of ending work in process inventory and of the units transferred out to the next department.
- Prepare a cost reconciliation schedule for the month.
****** **** attached the *******Attached: equivalent units.xlsx