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 21,500 49,000 Units completed and transferred out Units in process, April 30, 20% complete 10,500 Costs: WIP, April 1 $ 95,600 Costs added during April 287,650 Ranuired.

Answer 1

Only first question has been answered.

Requirement 1 e.u Mino Inc. Production Cost Report-Cooking Department (WACC) Month ended Apr 30 Physical UNITS units % Units to account for Beginning Work-in-Process 21500 Started in production 38000 Total units to acount for 59500 Units accounted for: Transferred to Plying Dept. 49000 100% Ending Work-in-Process 10500 20% Total units acccounted for 59500 49000 2100 51100 Amount COSTS Costs to account for: Beginning Work-in-Process Costs added during the period Total costs to account for Divided by: EUP this period Cost per equivalent unit 95,600 2,87,650 3,83,250 51,100 7.50 $ $ 3,67,500 Costs accounted for: Transferred out (49000*7.50) Ending Work-in-Process (2100*7.50) Total costs accounted for 15,750 $ 3,83,250