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 ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Oct. 1 Bal., 2,300 units, 3/5 completed 46,368 31 Direct materials, 26,000 units 429,000 475,368 31 Direct labor 100,560 575,928 31 Factory overhead 48,480 624,408 31 Goods transferred, 25,700 units ? 31 Bal., ? units, 1/5 completed ? 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. Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended October 31 Unit Information Units charged to production: Inventory in process, October 1 fill in the blank 4ca4f405efb9006_1 Received from materials storeroom fill in the blank 4ca4f405efb9006_2 Total units accounted for by the Blending Department fill in the blank 4ca4f405efb9006_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, October 1 fill in the blank 4ca4f405efb9006_4 fill in the blank 4ca4f405efb9006_5 fill in the blank 4ca4f405efb9006_6 Started and completed in October fill in the blank 4ca4f405efb9006_7 fill in the blank 4ca4f405efb9006_8 fill in the blank 4ca4f405efb9006_9 Transferred to Molding Department in October fill in the blank 4ca4f405efb9006_10 fill in the blank 4ca4f405efb9006_11 fill in the blank 4ca4f405efb9006_12 Inventory in process, October 31 fill in the blank 4ca4f405efb9006_13 fill in the blank 4ca4f405efb9006_14 fill in the blank 4ca4f405efb9006_15 Total units to be assigned costs fill in the blank 4ca4f405efb9006_16 fill in the blank 4ca4f405efb9006_17 fill in the blank 4ca4f405efb9006_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for October in Blending Department $fill in the blank 4ca4f405efb9006_19 $fill in the blank 4ca4f405efb9006_20 Total equivalent units fill in the blank 4ca4f405efb9006_21 fill in the blank 4ca4f405efb9006_22 Cost per equivalent unit $fill in the blank 4ca4f405efb9006_23 $fill in the blank 4ca4f405efb9006_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, October 1 $fill in the blank 4ca4f405efb9006_25 Costs incurred in October fill in the blank 4ca4f405efb9006_26 Total costs accounted for by the Blending Department $fill in the blank 4ca4f405efb9006_27 Costs allocated to completed and partially completed units: Inventory in process, October 1 balance $fill in the blank 4ca4f405efb9006_28 To complete inventory in process, October 1 $fill in the blank 4ca4f405efb9006_29 fill in the blank 4ca4f405efb9006_30 Cost of completed October 1 work in process $fill in the blank 4ca4f405efb9006_31 Started and completed in October $fill in the blank 4ca4f405efb9006_32 fill in the blank 4ca4f405efb9006_33 fill in the blank 4ca4f405efb9006_34 Transferred to Molding Department in October $fill in the blank 4ca4f405efb9006_35 Inventory in process, October 31 fill in the blank 4ca4f405efb9006_36 fill in the blank 4ca4f405efb9006_37 fill in the blank 4ca4f405efb9006_38 Total costs assigned by the Blending Department $fill in the blank 4ca4f405efb9006_39 Feedback 1. Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory. 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 Change in direct materials cost per equivalent unit Decrease $fill in the blank 7071a70ad066f95_2 Change in conversion cost per equivalent unit Increase $fill in the blank 7071a70ad066f95_4

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 ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Oct. 1 Bal., 2,300 units, 3/5 completed 46,368 31 Direct materials, 26,000 units 429,000 475,368 31 Direct labor 100,560 575,928 31 Factory overhead 48,480 624,408 31 Goods transferred, 25,700 units ? 31 Bal., ? units, 1/5 completed ? 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. Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended October 31 Unit Information Units charged to production: Inventory in process, October 1 fill in the blank 4ca4f405efb9006_1 Received from materials storeroom fill in the blank 4ca4f405efb9006_2 Total units accounted for by the Blending Department fill in the blank 4ca4f405efb9006_3 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, October 1 fill in the blank 4ca4f405efb9006_4 fill in the blank 4ca4f405efb9006_5 fill in the blank 4ca4f405efb9006_6 Started and completed in October fill in the blank 4ca4f405efb9006_7 fill in the blank 4ca4f405efb9006_8 fill in the blank 4ca4f405efb9006_9 Transferred to Molding Department in October fill in the blank 4ca4f405efb9006_10 fill in the blank 4ca4f405efb9006_11 fill in the blank 4ca4f405efb9006_12 Inventory in process, October 31 fill in the blank 4ca4f405efb9006_13 fill in the blank 4ca4f405efb9006_14 fill in the blank 4ca4f405efb9006_15 Total units to be assigned costs fill in the blank 4ca4f405efb9006_16 fill in the blank 4ca4f405efb9006_17 fill in the blank 4ca4f405efb9006_18 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for October in Blending Department $fill in the blank 4ca4f405efb9006_19 $fill in the blank 4ca4f405efb9006_20 Total equivalent units fill in the blank 4ca4f405efb9006_21 fill in the blank 4ca4f405efb9006_22 Cost per equivalent unit $fill in the blank 4ca4f405efb9006_23 $fill in the blank 4ca4f405efb9006_24 Costs assigned to production: Direct Materials Conversion Total Inventory in process, October 1 $fill in the blank 4ca4f405efb9006_25 Costs incurred in October fill in the blank 4ca4f405efb9006_26 Total costs accounted for by the Blending Department $fill in the blank 4ca4f405efb9006_27 Costs allocated to completed and partially completed units: Inventory in process, October 1 balance $fill in the blank 4ca4f405efb9006_28 To complete inventory in process, October 1 $fill in the blank 4ca4f405efb9006_29 fill in the blank 4ca4f405efb9006_30 Cost of completed October 1 work in process $fill in the blank 4ca4f405efb9006_31 Started and completed in October $fill in the blank 4ca4f405efb9006_32 fill in the blank 4ca4f405efb9006_33 fill in the blank 4ca4f405efb9006_34 Transferred to Molding Department in October $fill in the blank 4ca4f405efb9006_35 Inventory in process, October 31 fill in the blank 4ca4f405efb9006_36 fill in the blank 4ca4f405efb9006_37 fill in the blank 4ca4f405efb9006_38 Total costs assigned by the Blending Department $fill in the blank 4ca4f405efb9006_39 Feedback 1. Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory. 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 Change in direct materials cost per equivalent unit Decrease $fill in the blank 7071a70ad066f95_2 Change in conversion cost per equivalent unit Increase $fill in the blank 7071a70ad066f95_4

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

Related questions

Concept explainers

Topic Video

Question

Cost of Production Report

ACCOUNT Work in Process—Blending Department	ACCOUNT NO.
Date	Item	Debit	Credit	Balance
Debit	Credit
Oct.	1	Bal., 2,300 units, 3/5 completed				46,368
	31	Direct materials, 26,000 units	429,000			475,368
	31	Direct labor	100,560			575,928
	31	Factory overhead	48,480			624,408
	31	Goods transferred, 25,700 units			?
	31	Bal., ? units, 1/5 completed				?

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.

Bavarian Chocolate Company
Cost of Production Report-Blending Department
For the Month Ended October 31
Unit Information
Units charged to production:
Inventory in process, October 1	fill in the blank 4ca4f405efb9006_1
Received from materials storeroom	fill in the blank 4ca4f405efb9006_2
Total units accounted for by the Blending Department	fill in the blank 4ca4f405efb9006_3
Units to be assigned costs:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, October 1	fill in the blank 4ca4f405efb9006_4	fill in the blank 4ca4f405efb9006_5	fill in the blank 4ca4f405efb9006_6
Started and completed in October	fill in the blank 4ca4f405efb9006_7	fill in the blank 4ca4f405efb9006_8	fill in the blank 4ca4f405efb9006_9
Transferred to Molding Department in October	fill in the blank 4ca4f405efb9006_10	fill in the blank 4ca4f405efb9006_11	fill in the blank 4ca4f405efb9006_12
Inventory in process, October 31	fill in the blank 4ca4f405efb9006_13	fill in the blank 4ca4f405efb9006_14	fill in the blank 4ca4f405efb9006_15
Total units to be assigned costs	fill in the blank 4ca4f405efb9006_16	fill in the blank 4ca4f405efb9006_17	fill in the blank 4ca4f405efb9006_18
Cost Information
Cost per equivalent unit:
	Direct Materials	Conversion
Total costs for October in Blending Department	$fill in the blank 4ca4f405efb9006_19	$fill in the blank 4ca4f405efb9006_20
Total equivalent units	fill in the blank 4ca4f405efb9006_21	fill in the blank 4ca4f405efb9006_22
Cost per equivalent unit	$fill in the blank 4ca4f405efb9006_23	$fill in the blank 4ca4f405efb9006_24
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, October 1			$fill in the blank 4ca4f405efb9006_25
Costs incurred in October			fill in the blank 4ca4f405efb9006_26
Total costs accounted for by the Blending Department			$fill in the blank 4ca4f405efb9006_27
Costs allocated to completed and partially completed units:
Inventory in process, October 1 balance			$fill in the blank 4ca4f405efb9006_28
To complete inventory in process, October 1		$fill in the blank 4ca4f405efb9006_29	fill in the blank 4ca4f405efb9006_30
Cost of completed October 1 work in process			$fill in the blank 4ca4f405efb9006_31
Started and completed in October	$fill in the blank 4ca4f405efb9006_32	fill in the blank 4ca4f405efb9006_33	fill in the blank 4ca4f405efb9006_34
Transferred to Molding Department in October			$fill in the blank 4ca4f405efb9006_35
Inventory in process, October 31	fill in the blank 4ca4f405efb9006_36	fill in the blank 4ca4f405efb9006_37	fill in the blank 4ca4f405efb9006_38
Total costs assigned by the Blending Department			$fill in the blank 4ca4f405efb9006_39

Feedback

1. Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory.

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
Change in direct materials cost per equivalent unit	Decrease	$fill in the blank 7071a70ad066f95_2
Change in conversion cost per equivalent unit	Increase	$fill in the blank 7071a70ad066f95_4

How do I determine increase or decrease for change in direct materials cost per equivalent unit and change in conversion cost per equivalent unit?

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

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.