Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.):
Production: | |
Units in process, April 1, 60% complete | 33,500 |
Units completed and transferred out | 43,000 |
Units in process, April 30, 20% complete | 7,500 |
Costs: | |
WIP, April 1 | $ 95,600 |
Costs added during April | 300,450 |
Required:
Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value in intermediate calculations.
Mino Inc. | |||
Cooking Department Production Report | |||
For the Month of April (Weighted Average Method) | |||
Unit Information | |||
Physical flow: | |||
Units to account for: | Units | ||
Units in beginning work in process | |||
Units started | |||
Total units to account for | |||
Units accounted for: | Units | ||
Units completed | |||
Units in ending work in process | |||
Total units accounted for | |||
Equivalent units: | |||
Units | |||
Units completed | |||
Units in ending work in process | |||
Total equivalent units | |||
Cost Information | |||
Costs to account for: | |||
Dollars | |||
Costs in beginning work in process | $ | ||
Costs added by department | |||
Total costs to account for | $ | ||
Cost per equivalent unit | $ | ||
Costs accounted for: | |||
Transferred Out | Ending Work in Process | Total | |
Goods transferred out | $ | $ | |
Goods in ending work in process | $ | ||
Total costs accounted for | $ | $ | $ |
Solution:
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Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted...
Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.): Production: Units in process, April 1, 60% complete 23,000 Units completed and transferred out 47,500 Units in process, April 30, 20% complete 10,500 Costs: WIP, April 1 $ 85,600 Costs added during April 340,960 Required: Prepare a...
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