Process Costing: The mixing department of Kale Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February. Units Beginning WIP Started in production in February Transferred out in February Ending WIP: Units Percent Complete: Direct materials Conversion costs Costs Beginning WIP: Direct materials costs Conversion costs Direct materials costs added in July Conversion costs added in July: Direct labor Manufacturing overhead allocated 9,000 51,000 40,000 Required: Prepare a Production Cost Report. ??? 100% 25% $16,750 $60,000 Total conversion costs added $76,750 $4,000 $2,000 $146,000
Process Costing: The mixing department of Kale Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February. Units Beginning WIP Started in production in February Transferred out in February Ending WIP: Units Percent Complete: Direct materials Conversion costs Costs Beginning WIP: Direct materials costs Conversion costs Direct materials costs added in July Conversion costs added in July: Direct labor Manufacturing overhead allocated 9,000 51,000 40,000 Required: Prepare a Production Cost Report. ??? 100% 25% $16,750 $60,000 Total conversion costs added $76,750 $4,000 $2,000 $146,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Transcribed Image Text:**Process Costing:**
The mixing department of Kale Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February.
**Units**
- Beginning WIP: 9,000
- Started in production in February: 51,000
- Transferred out in February: 40,000
- **Ending WIP:**
- Units: ???
- Percent Complete:
- Direct materials: 100%
- Conversion costs: 25%
**Costs**
- **Beginning WIP:**
- Direct materials costs: $4,000
- Conversion costs: $2,000
- **Direct materials costs added in July:**
- $146,000
- **Conversion costs added in July:**
- Direct labor: $16,750
- Manufacturing overhead allocated: $60,000
- Total conversion costs added: $76,750
**Required:**
Prepare a Production Cost Report.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education