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Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. The following information relates to work in the mixing department for the month of July: 2. Compute costs. 2. Compute costs. Mixing Department Costs per Equivalent Unit Cost of beginning work in process inventory Costs added during the period Total cost Equivalent units of production Cost per equivalent unit 45 46 3. Assign costs. 47 Mixing Department 45 Costs of Ending Work in Process Inventory and the Units Transferred Out 49 50 Ending work in process inventory: 51 Equivalent units of production 52 Cost per equivalent unit 53 Cost of ending work in process inventory 54. Units completed and transferred out: 55 Units transferred to the next department 56 Cost per equivalent unit 57 Cost of units transferred out Materials Conversion Total 58 59 4. Prepare report. 60 61 Mixing Department Cost Reconciliation 62 Costs to be accounted for: 63 Cost of beginning work in process inventory 64 Costs added to production during the period 65 Total cost to be accounted for 66 Costs accounted for as follows: 67 Cost of ending work in process inventory 68 Cost of units transferred out 69 Total cost accounted for
Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging. The following information relates to work in the mixing department for the month of July: 2. Compute costs. 2. Compute costs. Mixing Department Costs per Equivalent Unit Cost of beginning work in process inventory Costs added during the period Total cost Equivalent units of production Cost per equivalent unit 45 46 3. Assign costs. 47 Mixing Department 45 Costs of Ending Work in Process Inventory and the Units Transferred Out 49 50 Ending work in process inventory: 51 Equivalent units of production 52 Cost per equivalent unit 53 Cost of ending work in process inventory 54. Units completed and transferred out: 55 Units transferred to the next department 56 Cost per equivalent unit 57 Cost of units transferred out Materials Conversion Total 58 59 4. Prepare report. 60 61 Mixing Department Cost Reconciliation 62 Costs to be accounted for: 63 Cost of beginning work in process inventory 64 Costs added to production during the period 65 Total cost to be accounted for 66 Costs accounted for as follows: 67 Cost of ending work in process inventory 68 Cost of units transferred out 69 Total cost accounted for
Final answer:In costcomputation, both average and marginal costs are considered. Average cost is total cost divided by quantity, and marginal cost is the cost of producing one additional unit, calculated as the difference in total cost divided by the difference in output.Explanation:In calculating costs in the context of Hayword, Inc's mixing department, we can consider theaverage costand the marginal cost. Average cost is the total cost divided by the quantity produced. For instance, if two units cost $44 in total, the average cost per unit would be $44 divided by 2, yielding $22 per unit.On the other hand,marginal costis the cost associated with producing one more unit of output. It is calculated as the change in total cost divided by the change in output. If the total cost of producing the first unit is $32.50, and the cost increases to $44 with the production of a second unit, the marginal cost of the second unit is $44 minus $32.50, or $11.50.Such cost calculations are crucial to understanding the profitability and efficiency of the mixing department's operations. It's important to keep in mind that this is a broad overview of cost calculations, and further market or company specific variables might be considered in more detailed analysis.Learn more about Cost Computation here:brainly.com/question/34294278#SPJ11...