Cost of Production ReportBavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, andsugar) into the Blending Department. All materials are placed into production at the beginning of the blending process. After blending, the milkchocolate is then transferred to the Molding Department, where the milk chocolate is formed into candy bars. The following is a partial work inprocess account of the Blending Department at October 31:ACCOUNT Work in Process-Blending DepartmentACCOUNT NO.BalanceDebitCreditDateItemDebitCredit1 Bal., 2,300 units, 3/5 completedOct.46,36831 Direct materials, 26,000 units429,000475,36831 Direct labor100,560575,92831 Factory overhead48,480624,40831 Goods transferred, 25,700 units31 Bal., ? units, 1/5 completedRequired:1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero ente"0". If required, round your cost per equivalent unit answers to the nearest cent.Bavarian Chocolate CompanyCost of Production Report-Blending Department

Question
Asked Jan 19, 2020
63 views
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
ACCOUNT NO.
Balance
Debit
Credit
Date
Item
Debit
Credit
1 Bal., 2,300 units, 3/5 completed
Oct.
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 ente
"0". If required, round your cost per equivalent unit answers to the nearest cent.
Bavarian Chocolate Company
Cost of Production Report-Blending Department
help_outline

Image Transcriptionclose

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 ACCOUNT NO. Balance Debit Credit Date Item Debit Credit 1 Bal., 2,300 units, 3/5 completed Oct. 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 ente "0". If required, round your cost per equivalent unit answers to the nearest cent. Bavarian Chocolate Company Cost of Production Report-Blending Department

fullscreen
check_circle

Expert Answer

Step 1

Production cost report: A production cost report is a comprehensive report prepared for each department separately at the end of a particular period, which represents the physical flow and cost flow of product for the concerned department.

 

Calculate the...

Accounting homework question answer, step 1, image 1
fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Accounting