Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Method Godfrey Manufacturing, inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process -Blending Department account for January is missing a few items: Work in Process-Blending Department January 1 inventory (5.000 gallons, 60% processed) Direct material Conversion costs Transferred to Bottling Department (60,000 gallons) $21,600 10,620 January charges Direct material (61.000 galons) 274,500 Direct labor 132,480 Manufacturing overhead 87,8401 January 31 inventory [? gallons. 70% processed] Required Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department: a. Number of units in the January 31 inventory. b. Equivalent units for materials and conversion costs. c. January cost per equivalent unit for materials and conversion costs. d. Cost of the units transferred to the Bottling Department. e. Cost of the incompl Page 7 January 31 Inventory Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Godfrey Manufacturing,Inc. Blending Department Flow of Units and Equivalent Units Calculation, January CompletarTransferred Ending Inventory d. Toral Beginning Inventory Current Equivalent Units % Work done Direct Materials % Work Done Conversion Costs Product Cost Report Total Costs to Account For Total Equivalent Units Average cost/Equivalent units (round four decimal places) Complete / Transferred: Direct Materials Conversion Costs $ $ $ $ S $ Direct Materials $ Conversion costs Cost of Goods Manufactured Ending Inventory: Direct Materials $ d. $ Conversion costs Cost of Ending Inventory $ C Total Costs Allocated $ Check
Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Method Godfrey Manufacturing, inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process -Blending Department account for January is missing a few items: Work in Process-Blending Department January 1 inventory (5.000 gallons, 60% processed) Direct material Conversion costs Transferred to Bottling Department (60,000 gallons) $21,600 10,620 January charges Direct material (61.000 galons) 274,500 Direct labor 132,480 Manufacturing overhead 87,8401 January 31 inventory [? gallons. 70% processed] Required Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department: a. Number of units in the January 31 inventory. b. Equivalent units for materials and conversion costs. c. January cost per equivalent unit for materials and conversion costs. d. Cost of the units transferred to the Bottling Department. e. Cost of the incompl Page 7 January 31 Inventory Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Godfrey Manufacturing,Inc. Blending Department Flow of Units and Equivalent Units Calculation, January CompletarTransferred Ending Inventory d. Toral Beginning Inventory Current Equivalent Units % Work done Direct Materials % Work Done Conversion Costs Product Cost Report Total Costs to Account For Total Equivalent Units Average cost/Equivalent units (round four decimal places) Complete / Transferred: Direct Materials Conversion Costs $ $ $ $ S $ Direct Materials $ Conversion costs Cost of Goods Manufactured Ending Inventory: Direct Materials $ d. $ Conversion costs Cost of Ending Inventory $ C Total Costs Allocated $ Check
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Method
Godfrey Manufacturing, inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending
Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process
-Blending Department account for January is missing a few items:
Work in Process-Blending Department
January 1 inventory (5.000 gallons, 60% processed)
Direct material
Conversion costs
Transferred to Bottling Department (60,000 gallons)
$21,600
10,620
January charges
Direct material (61.000 galons)
274,500
Direct labor
132,480
Manufacturing overhead
87,8401
January 31 inventory [? gallons. 70% processed]
Required
Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department:
a. Number of units in the January 31 inventory.
b. Equivalent units for materials and conversion costs.
c. January cost per equivalent unit for materials and conversion costs.
d. Cost of the units transferred to the Bottling Department.
e. Cost of the incompl Page 7 January 31 Inventory
Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number.
Godfrey Manufacturing,Inc. Blending Department
Flow of Units and Equivalent Units Calculation, January
CompletarTransferred
Ending Inventory
d.
Toral
Beginning Inventory
Current
Equivalent Units
% Work
done
Direct
Materials
% Work
Done
Conversion
Costs
Product Cost Report
Total Costs to Account For
Total Equivalent Units
Average cost/Equivalent units (round four decimal places)
Complete / Transferred:
Direct
Materials
Conversion
Costs
$
$
$
$
S
$
Direct Materials
$
Conversion costs
Cost of Goods Manufactured
Ending Inventory:
Direct Materials
$
d.
$
Conversion costs
Cost of Ending Inventory
$
C
Total Costs Allocated
$
Check](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30d26a2b-8c7f-4e74-8b1f-6057ff57a7cd%2F18ba6798-a85a-4f53-bbc7-2b6064423617%2Fkeig8ugs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Method
Godfrey Manufacturing, inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending
Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process
-Blending Department account for January is missing a few items:
Work in Process-Blending Department
January 1 inventory (5.000 gallons, 60% processed)
Direct material
Conversion costs
Transferred to Bottling Department (60,000 gallons)
$21,600
10,620
January charges
Direct material (61.000 galons)
274,500
Direct labor
132,480
Manufacturing overhead
87,8401
January 31 inventory [? gallons. 70% processed]
Required
Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department:
a. Number of units in the January 31 inventory.
b. Equivalent units for materials and conversion costs.
c. January cost per equivalent unit for materials and conversion costs.
d. Cost of the units transferred to the Bottling Department.
e. Cost of the incompl Page 7 January 31 Inventory
Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number.
Godfrey Manufacturing,Inc. Blending Department
Flow of Units and Equivalent Units Calculation, January
CompletarTransferred
Ending Inventory
d.
Toral
Beginning Inventory
Current
Equivalent Units
% Work
done
Direct
Materials
% Work
Done
Conversion
Costs
Product Cost Report
Total Costs to Account For
Total Equivalent Units
Average cost/Equivalent units (round four decimal places)
Complete / Transferred:
Direct
Materials
Conversion
Costs
$
$
$
$
S
$
Direct Materials
$
Conversion costs
Cost of Goods Manufactured
Ending Inventory:
Direct Materials
$
d.
$
Conversion costs
Cost of Ending Inventory
$
C
Total Costs Allocated
$
Check
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