Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows: Bal., 600 units, 60% completed: Direct materials (600 x $7.40) $ 4,440 Conversion (600 x 60% x $3.10) 1,116 $ 5,556 From Cooking Department, 14,280 units $107,100 Direct labor 27,539 Factory overhead 14,829 During April, 600 units in process on April 1 were completed, and of the 14,280 units entering the department, all were completed except 1,600 units that were 20% completed. Charges to Work in Process—Filling for May were as follows: From Cooking Department, 16,400 units $126,280 Direct labor 37,580 Factory overhead 20,236 During May, the units in process at the beginning of the month were completed, and of the 16,400 units entering the department, all were completed except 800 units that were 80% completed. Required: 1. Enter the balance as of April 1 in a four-column account for Work in Process—Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Filling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Apr. 1 Bal., 600 units, 60% completed fill in the blank fill in the blank fill in the blank fill in the blank 30 Cooking Dept., 14,280 units at $7.50 fill in the blank fill in the blank fill in the blank fill in the blank 30 Direct labor fill in the blank fill in the blank fill in the blank fill in the blank 30 Factory overhead fill in the blank fill in the blank fill in the blank fill in the blank 30 Finished goods fill in the blank fill in the blank fill in the blank fill in the blank 30 Bal., 1,600 units, 20% completed fill in the blank fill in the blank fill in the blank fill in the blank If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) Units charged to production: Inventory in process, April 1 fill in the blank Received from Cooking Department fill in the blank Total units accounted for by the Filling Department fill in the blank Units to be assigned costs: Inventory in process, April 1 fill in the blank fill in the blank fill in the blank Started and completed in April fill in the blank fill in the blank fill in the blank Transferred to finished goods in April fill in the blank fill in the blank fill in the blank Inventory in process, April 30 fill in the blank fill in the blank fill in the blank Total units to be assigned costs fill in the blank fill in the blank fill in the blank Costs Costs Direct Materials Conversion Total Costs per equivalent unit: Total costs for April in Filling Department $fill in the blank $fill in the blank Total equivalent units fill in the blank fill in the blank Cost per equivalent unit (b) $fill in the blank $fill in the blank Costs charged to production: Inventory in process, April 1 $fill in the blank Costs incurred in April fill in the blank Total costs accounted for by the Filling Department $fill in the blank Cost allocated to completed and partially completed units: Inventory in process, April 1 balance (c) $fill in the blank To complete inventory in process, April 1 (c) $fill in the blank $fill in the blank fill in the blank Cost of completed April 1 work in process $fill in the blank Started and completed in April (c) fill in the blank fill in the blank fill in the blank Transferred to finished goods in April (c) $fill in the blank Inventory in process, April 30 (d) fill in the blank fill in the blank fill in the blank Total costs assigned by the Filling Department $fill in the blank 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank.
Work in Process Account Data for Two Months; Cost of Production Reports
Hearty Soup Co. uses a
Bal., 600 units, 60% completed: | ||
Direct materials (600 x $7.40) | $ 4,440 | |
Conversion (600 x 60% x $3.10) | 1,116 | |
$ 5,556 | ||
From Cooking Department, 14,280 units | $107,100 | |
Direct labor | 27,539 | |
Factory |
14,829 |
During April, 600 units in process on April 1 were completed, and of the 14,280 units entering the department, all were completed except 1,600 units that were 20% completed.
Charges to Work in Process—Filling for May were as follows:
From Cooking Department, 16,400 units | $126,280 |
Direct labor | 37,580 |
Factory overhead | 20,236 |
During May, the units in process at the beginning of the month were completed, and of the 16,400 units entering the department, all were completed except 800 units that were 80% completed.
Required:
1. Enter the balance as of April 1 in a four-column account for Work in Process—Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, leave it blank.
ACCOUNT | Work in Process-Filling Department | ACCOUNT NO. | ||||
---|---|---|---|---|---|---|
BALANCE | ||||||
DATE | ITEM | POST. REF. | DEBIT | CREDIT | DEBIT | CREDIT |
Apr. 1 | Bal., 600 units, 60% completed | fill in the blank | fill in the blank | fill in the blank | fill in the blank | |
30 | Cooking Dept., 14,280 units at $7.50 | fill in the blank | fill in the blank | fill in the blank | fill in the blank | |
30 | Direct labor | fill in the blank | fill in the blank | fill in the blank | fill in the blank | |
30 | Factory overhead | fill in the blank | fill in the blank | fill in the blank | fill in the blank | |
30 | Finished goods | fill in the blank | fill in the blank | fill in the blank | fill in the blank | |
30 | Bal., 1,600 units, 20% completed | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent.
Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 |
|||
---|---|---|---|
Whole Units | Equivalent Units | ||
Units | Direct Materials (a) | Conversion (a) | |
Units charged to production: | |||
Inventory in process, April 1 | fill in the blank | ||
Received from Cooking Department | fill in the blank | ||
Total units accounted for by the Filling Department | fill in the blank | ||
Units to be assigned costs: | |||
Inventory in process, April 1 | fill in the blank | fill in the blank | fill in the blank |
Started and completed in April | fill in the blank | fill in the blank | fill in the blank |
Transferred to finished goods in April | fill in the blank | fill in the blank | fill in the blank |
Inventory in process, April 30 | fill in the blank | fill in the blank | fill in the blank |
Total units to be assigned costs | fill in the blank | fill in the blank | fill in the blank |
Costs | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Costs | Direct Materials | Conversion | Total | |||||||||
Costs per equivalent unit: | ||||||||||||
Total costs for April in Filling Department | $fill in the blank | $fill in the blank | ||||||||||
Total equivalent units | fill in the blank | fill in the blank | ||||||||||
Cost per equivalent unit (b) | $fill in the blank | $fill in the blank | ||||||||||
Costs charged to production: | ||||||||||||
Inventory in process, April 1 | $fill in the blank | |||||||||||
Costs incurred in April | fill in the blank | |||||||||||
Total costs accounted for by the Filling Department | $fill in the blank | |||||||||||
Cost allocated to completed and partially completed units: | ||||||||||||
Inventory in process, April 1 balance (c) | $fill in the blank | |||||||||||
To complete inventory in process, April 1 (c) | $fill in the blank | $fill in the blank | fill in the blank | |||||||||
Cost of completed April 1 work in process | $fill in the blank | |||||||||||
Started and completed in April (c) | fill in the blank | fill in the blank | fill in the blank | |||||||||
Transferred to finished goods in April (c) | $fill in the blank | |||||||||||
Inventory in process, April 30 (d) | fill in the blank | fill in the blank | fill in the blank | |||||||||
Total costs assigned by the Filling Department | $fill in the blank |
2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank.
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