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

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

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...

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