Nestle Chocolate Company processes chocolate into candy bars. The process being by placing direct materials...
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Nestle Chocolate Company processes chocolate into candy bars. The process being by placing direct materials such as raw chocolate, milk, and sugar into the blending Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the Molding Department, where the milk chocolate is formed into candy bars. March 1 Beginning inventory, 2300 units, 60% completed $46,368 March 31 Direct Materials, 26,000 units 429,000 March 31 Direct Labor 100,560 March 31 Factory Overhead 48,480 March 31 Goods transferred, 25,700 units March 31 Ending Inventory, 2600 units, 20% completed Prepare a cost of production report for the Blending Department for March, using FIFO for equivalent units
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