2. Prepare the production report for the blending process. Physical Units Transferred-in Costs Direct Materials $8,000...

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2. Prepare the production report for the blending process. Physical Units Transferred-in Costs Direct Materials $8,000 Conver

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Production Cost report - Blending Process
Computation of Equivalent unit of Production
Particulars	Physical Units	Material	Conversion
Units to account for:
Beginning WIP	40000
Started into Production	750000
Total units to account for	790000
Units accounted for:
Unit completed & Transferred out	760000	760000	760000
Units in ending inventory:	30000
Material (60%)		18000
Conversion (40%)			12000

Equivalent units of production	790000	778000	772000

Computation of Cost per equivalent unit - Blending Process
Particulars	Material	Conversion	Total
Opening WIP	$8,000	$24,800	$32,800
Cost Added during Period	$147,600	$554,200	$701,800

Total cost to be accounted for	$155,600	$579,000	$734,600
Equivalent units of production	778000	772000
Cost per Equivalent unit	$0.20	$0.75

Computation of Cost of ending WIP and units completed & transferred out - Blending Process
Particulars	Material	Conversion	Total
Equivalent unit of Ending WIP	18000	12000
Cost per equivalent unit	$0.20	$0.75
*Cost of Ending WIP (Equivalent unit Cost per equivalent unit)**	$3,600	$9,000	$12,600
Units completed and transferred	760000	760000
*Cost of units completed & Transferred (Unit completed cost per equivalent unit)**	$152,000	$570,000	$722,000

Cost reconciliation - Blending Process
Particulars	Amount
Costs to be accounted for:
Cost of beginning WIP inventory	$32,800.00
Cost added to production	$701,800.00

Total Costs to be accounted for	$734,600.00

Costs accounted for as follows:
Cost of unit transferred out	$722,000
Ending WIP:
Material	$3,600
Conversion	$9,000
Total Ending WIP	$12,600
Total costs accounted for	$734,600

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