Question 1 Process Costing - Part 1 (10 points)
Peter’s Paint Products manufactures house paint. The ingredients are combined in the Mixing
Department, and then put in 4 litre cans in the Packaging Department.
Required:
Using the results from Part 1 and the above information, prepare a cost of production report for the
Packaging Department for May using the weighted average method. Where necessary, show your
costs per unit to four decimal places. The report should include the following:
1. Physical flow of unit.
2. Calculation of equivalent units.
3. Calculation of unit costs.
4. Costs accounted for, showing costs transferred out and the cost of ending work in process.
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