Option #1: Process Costing
YouGot Yogurt, Inc. manufactures yogurt that goes through three processing stagesprior to completion. Information on work in the first department, flavoridentification and blending, is given below for November:
Data on Production:
Pounds in process atNovember 1; materials 100% complete; conversion 70% complete
3,525
Pounds started intoproduction during November
75,000
Pounds completed andtransferred out
?
Pounds in process,November 30; materials 85% complete; conversion 40% complete
6,100
Data on Costs:
Work in processinventory, November 1: Materials cost
$1,800
Conversion cost
$3,700
Cost added duringNovember: Materials cost
$121,000
Conversion cost
$147,700
Thecompany 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 thefollowing:
Compute the equivalent units of production.
Compute the costs per equivalent unit for the month.
Determine the cost of ending work in processinventory and of the units transferred out to the next department.
Prepare a cost reconciliation schedule for themonth. Below the schedule, comment on what the cost reconciliation scheduletells us about the company’s costs.
Responses should be in complete sentences utilizing propergrammar. Your paper must be formatted according to CSU-Global Guide to Writing and APA Requirements (Links to an external site.). Reference Lynda.com in the CSU-Global Library (Links to an externalsite.)forMicrosoft Excel tutorials or use the Excel Tutorials link found in theclassroom if assistance is needed.
Reviewthe Module 3 Critical Thinking Rubric for full details on how you will begraded on this assignment.
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