eBook Question Content Area Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three...
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Accounting
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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
35,000
Units completed and transferred out
44,500
Units in process, April 30, 20% complete
9,000
Costs:
WIP, April 1
$ 85,600
Costs added during April
340,600
Required:
Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value in subsequent requirments.
Note: "Total costs to account for" and "Total costs accounted for" may be different due to rounding.
Cooking Department Production Report
For the Month of April
(Weighted Average Method)
Physical flow:
Number of Units
Units to account for:
Units
Units in beginning work in process
fill in the blank 1
Units started
fill in the blank 2
Total units to account for
fill in the blank 3
Units accounted for:
blank
Units completed
fill in the blank 4
Units in ending work in process
fill in the blank 5
Total units accounted for
fill in the blank 6
Equivalent units:
blank
Units completed
fill in the blank 7
Units in ending work in process
fill in the blank 8
Total equivalent units
fill in the blank 9
Costs to account for:
Dollars
Costs in beginning work in process
$fill in the blank 10
Costs added by department
fill in the blank 11
Total costs to account for
$fill in the blank 12
Cost per equivalent unit
$fill in the blank 13
Costs accounted for:
Transferred Out
Ending Work in Process
Total
Goods transferred out
$fill in the blank 14
$fill in the blank 15
Goods in ending work in process
$fill in the blank 16
fill in the blank 17
Total costs accounted for
$fill in the blank 18
Answer & Explanation
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