Question

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 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 formation Physical flow Units to account fort Units

Answer 1

Physical Flow
Units to account for
Unit to beginning work in process			23000
Units started			35000
Total Units			58000
Units accounted for
Units completed			47500
Units in ending WIP			10500
Total Units account for			58000
Equivalent unit
Units completed			47500
Ending work in process (10500*20%)			2100
Total equivalent units			49600
Cost information
Cost to account for
Cost in beginning work in process			85600
Cost added by department			340960
Total costs to account for			426560
Cost per equivalent unit (426560/49600)			8.6
Costs accounted for
	Transferred out	Ending work in process	Total
Goods transferred out	408500		408500
Goods in ending work in process		18060	18060
Total costs accounted for	408500	18060	426560