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 | 32,000 |
Units completed and transferred out | 49,000 |
Units in process, April 30, 20% complete | 12,000 |
Costs: | |
WIP, April 1 | $ 90,600 |
Costs added during April | 413,120 |
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 | $ | $ | $ |
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 | 32000 | Units Completed | 49000 | ||||||
Units started | 29000 | Add: Closing WIP | 12000 | ||||||
Total units to account for | 61000 | Less: Opening WIP | 32000 | ||||||
Units accounted for: | Units | Units Started | 29000 | ||||||
Units completed | 49000 | ||||||||
Units in ending work in process | 12000 | ||||||||
Total units accounted for | 61000 | ||||||||
Equivalent units: | |||||||||
Units | |||||||||
Units completed | 49000 | ||||||||
Units in ending work in process | 2400 | 12000*20% | |||||||
Total equivalent units | 51400 | ||||||||
Cost Information | |||||||||
Costs to account for: | |||||||||
Dollars | |||||||||
Costs in beginning work in process | 90600 | ||||||||
Costs added by department | 413120 | ||||||||
Total costs to account for | 503720 | ||||||||
Cost per equivalent unit | 9.80 | (503720/51400) | |||||||
Costs accounted for: | |||||||||
Transferred Out | Ending Work in Process | Total | |||||||
Goods transferred out | 480200 | 480200 | (49000*9.80) | ||||||
Goods in ending work in process | 23520 | 23520 | (2400*9.80) | ||||||
Total costs accounted for | 480200 | 23520 | 503720 | ||||||
Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling....
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...
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...
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 5,000 Units completed and transferred out 44.500 Units in process, April 30, 20% complete Costs: $ 90,600 WIP, April 1 Costs added during April Required: 348,120 Prepare a production...
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