Homework Help is Here – Start Your Trial Now!
Business
Accounting
Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the B Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the M Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at October 31 ACCOUNT Work in Process-Blending Department Date Item October 1 Bal., 2,300 units, 3/5 completed 31 Direct materials, 26,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 25,700 units 31 Bal., 2 units, 1/5 completed ACCOUNT NO. Balance Balance Debit Credit Debit Credit 46,368 475,368 575,928 624,408 Units Costs Cost per equivalent unit: 429,000 100,560 48,480 Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0". If requi your cost per equivalent unit answers to the nearest cent. ? Units charged to production: Inventory in process, October 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs ? Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended March 31 Whole Units Costs Equivalent Units Equivalent Units Direct Materials Conversion Direct Materials Conversion Total

Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the B Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the M Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at October 31 ACCOUNT Work in Process-Blending Department Date Item October 1 Bal., 2,300 units, 3/5 completed 31 Direct materials, 26,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 25,700 units 31 Bal., 2 units, 1/5 completed ACCOUNT NO. Balance Balance Debit Credit Debit Credit 46,368 475,368 575,928 624,408 Units Costs Cost per equivalent unit: 429,000 100,560 48,480 Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0". If requi your cost per equivalent unit answers to the nearest cent. ? Units charged to production: Inventory in process, October 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs ? Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended March 31 Whole Units Costs Equivalent Units Equivalent Units Direct Materials Conversion Direct Materials Conversion Total

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2PB: Cost of production report Bavarian Chocolate Company processes chocolate into candy bars. The...
See similar textbooks
icon
Related questions
icon
Concept explainers
Topic Video
Question
Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs Costs Cost per equivalent unit: Total costs for October in Blending Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, October 1 Costs incurred in October Total costs accounted for by the Blending Department Costs allocated to completed and partially completed units: Inventory in process, October 1 balance Costs Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Direct Materials Conversion 000 Total To complete inventory in process, October 1 Cost of completed October 1 work in process Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total costs assigned by the Blending Department 2. Assuming that the October 1 work in process inventory includes direct materials of $38,295, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between September and October. If required, round your answers to two decimal places. Increase or Decrease Amount
Transcribed Image Text:Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs Costs Cost per equivalent unit: Total costs for October in Blending Department Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, October 1 Costs incurred in October Total costs accounted for by the Blending Department Costs allocated to completed and partially completed units: Inventory in process, October 1 balance Costs Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Direct Materials Conversion 000 Total To complete inventory in process, October 1 Cost of completed October 1 work in process Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total costs assigned by the Blending Department 2. Assuming that the October 1 work in process inventory includes direct materials of $38,295, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between September and October. If required, round your answers to two decimal places. Increase or Decrease Amount
Cost of Production Report Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the Molding Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at October 31: ACCOUNT Work in Process-Blending Department Date Item October 1 Bal., 2,300 units, 3/5 completed 31 Direct materials, 26,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 25,700 units 31 Ball., 2 units, 1/5 completed Units Costs Cost per equivalent unit: Debit Credit 429,000 100,560 48,480 Units charged to production: Inventory in process, October 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs Total costs for October in Blending Department ? Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0". If required, round your cost per equivalent unit answers to the nearest cent. ACCOUNT NO. Balance Balance Debit Credit 46,368 475,368 575,928 624,408 Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended March 31 ? Whole Units Costs Equivalent Units Equivalent Units Direct Materials Conversion Direct Materials Conversion Total
Transcribed Image Text:Cost of Production Report Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the Molding Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at October 31: ACCOUNT Work in Process-Blending Department Date Item October 1 Bal., 2,300 units, 3/5 completed 31 Direct materials, 26,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 25,700 units 31 Ball., 2 units, 1/5 completed Units Costs Cost per equivalent unit: Debit Credit 429,000 100,560 48,480 Units charged to production: Inventory in process, October 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Inventory in process, October 1 Started and completed in October Transferred to Molding Department in October Inventory in process, October 31 Total units to be assigned costs Total costs for October in Blending Department ? Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero enter "0". If required, round your cost per equivalent unit answers to the nearest cent. ACCOUNT NO. Balance Balance Debit Credit 46,368 475,368 575,928 624,408 Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended March 31 ? Whole Units Costs Equivalent Units Equivalent Units Direct Materials Conversion Direct Materials Conversion Total
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Costing Systems
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS