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The Blending Department for KanMont Paints started October with 800 gallons in process and started in production 9,300 gallons. During the month, 6,800 gallons were completed and transferred to the next department. Ending work-in-process was 3,300 gallons (100% complete with respect to direct materials and 40% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs: (Click the icon to view the costs.) 7. 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.) UNITS Units to account for: Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Month Enaea Uctober 31 Physical Units 800 9,300 10,100 6,800 3,300 10,100 $ $ Direct Materials Direct Materials $ Equialent Units 6,800 3,300 10,100 …... 5,540 Conversion Costs 722 $ 10,100 Conversion Costs 6,262 $ 6,800 1,320 8,120 0.62 $ 1,478 $ 3,800 5,278 8,120 0.65 Total Costs Data table Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 2,200 9,340 11,540 11540 Print Done $ $ 722 1,478 5,540 3,800 11,540

The Blending Department for KanMont Paints started October with 800 gallons in process and started in production 9,300 gallons. During the month, 6,800 gallons were completed and transferred to the next department. Ending work-in-process was 3,300 gallons (100% complete with respect to direct materials and 40% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs: (Click the icon to view the costs.) 7. 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.) UNITS Units to account for: Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Month Enaea Uctober 31 Physical Units 800 9,300 10,100 6,800 3,300 10,100 $ $ Direct Materials Direct Materials $ Equialent Units 6,800 3,300 10,100 …... 5,540 Conversion Costs 722 $ 10,100 Conversion Costs 6,262 $ 6,800 1,320 8,120 0.62 $ 1,478 $ 3,800 5,278 8,120 0.65 Total Costs Data table Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 2,200 9,340 11,540 11540 Print Done $ $ 722 1,478 5,540 3,800 11,540

FINANCIAL ACCOUNTING
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 Blending Department for KanMont Paints started October with 800 gallons in process and started in production 9,300 gallons. During the month, 6,800 gallons were completed and transferred to the next department. Ending work-in-process was 3,300 gallons (100% complete with respect to direct materials and 40% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs: (Click the icon to view the costs.) 7. 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.) UNITS Units to account for: Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Month Endea October 31 Physical Units 800 9,300 10,100 6,800 3,300 10,100 $ $ Equialent Units Direct Materials 6,800 3,300 10,100 Direct Materials Conversion Costs 722 $ 5,540 10,100 Conversion Costs 6,262 $ 6,800 1,320 8,120 0.62 $ 1,478 $ 3,800 5,278 8,120 0.65 $ Total Costs Data table Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 2,200 9,340 11,540 11540 Print Done $ 722 1,478 5,540 3,800 $ 11,540
Transcribed Image Text:The Blending Department for KanMont Paints started October with 800 gallons in process and started in production 9,300 gallons. During the month, 6,800 gallons were completed and transferred to the next department. Ending work-in-process was 3,300 gallons (100% complete with respect to direct materials and 40% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs: (Click the icon to view the costs.) 7. 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.) UNITS Units to account for: Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Month Endea October 31 Physical Units 800 9,300 10,100 6,800 3,300 10,100 $ $ Equialent Units Direct Materials 6,800 3,300 10,100 Direct Materials Conversion Costs 722 $ 5,540 10,100 Conversion Costs 6,262 $ 6,800 1,320 8,120 0.62 $ 1,478 $ 3,800 5,278 8,120 0.65 $ Total Costs Data table Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 2,200 9,340 11,540 11540 Print Done $ 722 1,478 5,540 3,800 $ 11,540
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