Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (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 Me Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at October 31: ACCOUNT Work in Process-Blending Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Oct. 1 Bal., 2,300 units, 3/5 completed 46,368 31 Direct materials, 26,000 units 429,000 475.368 31 Direct labor 100,560 575,928 31 Factory overhead 48,480 624,408 31 Goods transferred, 25,700 units 31 Bal., 2 units, 1/5 completed Requiredi 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0", If required, round your cost per equivalent unit answers to the nearest cent Bavarian Chocolate Company Cost of Production Report-Blending Department For the Mornth Ended October 31 Unit Information Units charged to production: Inventory in process, October 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Equivalent Units Whole Direct Units Materials Conversion Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for October in Blending Department Total equivalent units Cost per equivalent unit Costs assigned to production:
Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (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 Me Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at October 31: ACCOUNT Work in Process-Blending Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Oct. 1 Bal., 2,300 units, 3/5 completed 46,368 31 Direct materials, 26,000 units 429,000 475.368 31 Direct labor 100,560 575,928 31 Factory overhead 48,480 624,408 31 Goods transferred, 25,700 units 31 Bal., 2 units, 1/5 completed Requiredi 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0", If required, round your cost per equivalent unit answers to the nearest cent Bavarian Chocolate Company Cost of Production Report-Blending Department For the Mornth Ended October 31 Unit Information Units charged to production: Inventory in process, October 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Equivalent Units Whole Direct Units Materials Conversion Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for October in Blending Department Total equivalent units Cost per equivalent unit Costs assigned to production:
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Cost of Production Report
Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (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. The following is a partial work in process account of the Blending Department at October 31:
ACCOUNT Work in Process-Blending Department
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Oct.
1 Bal., 2,300 units, 3/5 completed
46,368
31 Direct materials, 26,000 units
429,000
475,368
31 Direct labor
100,560
575,928
31 Factory overhead
48,480
624,408
31 Goods transferred, 25,700 units
31 Bal., ? units, 1/5 completed
?.
Required:
1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0". If required, round your cost per equivalent unit answers to the nearest cent.
Bavarian Chocolate Company
Cost of Production Report-Blending Department
For the Month Ended October 31
Unit Information
Units charged to production:
Inventory in process, October 1
Received from materials storeroom
Total units accounted for by the Blending Department
Units to be assigned costs:
Equivalent Units
Whole
Direct
Units
Materials
Conversion
Inventory in process, October 1
Started and completed in October
Transferred to Molding Department in October
Inventory in process, October 31
Total units to be assigned costs
Cost Information
Cost per equivalent unit:
E
Direct
Materials
Conversion
Total costs for October in Blending Department
Total equivalent units
Cost per equivalent unit
Costs assigned to production:
Transcribed Image Text:Units charged to production:
Inventory in process, October 1
Received from materials storeroom
Total units accounted for by the Blending Department
Units to be assigned costs:
Equivalent Units
Whole
Direct
Units
Materials
Conversion
Inventory in process, October 1
Started and completed in October
Transferred to Molding Department in October
Inventory in process, October 31
Total units to be assigned costs
Cost Informnation
Cost per equivalent unit:
Direct
Materials
Conversion
Total costs for October in Blending Department
Total equivalent units
Cost per equivalent unit
Costs assigned to production:
Direct
Total
Materials Conversion
Inventory in process, October 1
Costs incurred in October
Total costs accounted for by the Blending Department
Costs allocated to completed and partially completed units:
Inventory in process, October 1 balance
To complete inventory in process, October 1
Cost of completed October 1 work in process
Started and completed in October
Transferred to Molding Department in October
Inventory in process, October 31
Total costs assigned by the Blending Department
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