Prepare a production cost report for the Blending Department for the month of October. (Enter cost per equivalent units to the nearest cent. Abbreviations: EUP = Equivalent Units of Production.) Please include explanations. The blending department for colored paint started October with 750 gallons in process and started in production 9,250 gallons. During the month, 8,750 gallons were completed and transferred to the next department. Ending work in process was 1,250 gallons (75% complete with respect to direct materials and 55% complete for conversion costs). The department uses the weighted average method. The blending department incurred the following costs:**Data Table:**- Beginning WIP—Direct material costs: $920- Beginning WIP—Conversion costs: $2,428- Direct materials added during the month: $5,020- Conversion costs added during the month: $3,700- **Total costs: $12,068**

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Description: Prepare a production cost report for the Blending Department for the month of October. (Enter cost per equivalent units to the nearest cent. Abbreviations: EUP = Equivalent Units of Production.) Please include explanations. The blending department fo

The production cost report sums up the production and cost movement inside an office for a detailing…

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Data Table Beginning WIP-Direct material costs 24 920 Beginning WIP-Conversion costs 2,428 Direct materials added during the month 5,020 3,700 Conversion costs added during the month 12,068 Total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 75% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 73,000 387,000 365,000 95,000 85% Conversion Percent Complete 25% 35%
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