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Green Craft Inc. uses a process costing system (weighted average method) and has two processing departments: Blending and Finishing. The following data relates to the Blending Department for the month of March: Units Material Conversion Work in process, beginning 800 $8,500 $5,100 Units started into production 5,000 Units completed and transferred 5,200 Work in process, ending 600 Cost added during March $25,965 $15,472 The beginning work in process inventory was 90% complete with respect to materials and 50% complete with respect to conversion. The ending work in process was 75% complete with respect to materials and 60% complete with respect to conversion. Required: 1. Prepare a cost of production report, in good form, for the Blending Department for the month ended March 31, 2021. Round all unit costs to 2 decimal places and round total costs to the whole dollar. 2. Prepare the journal entry to record the units completed and transferred from the Blending department to the Finishing department.

Green Craft Inc. uses a process costing system (weighted average method) and has two processing departments: Blending and Finishing. The following data relates to the Blending Department for the month of March: Units Material Conversion Work in process, beginning 800 $8,500 $5,100 Units started into production 5,000 Units completed and transferred 5,200 Work in process, ending 600 Cost added during March $25,965 $15,472 The beginning work in process inventory was 90% complete with respect to materials and 50% complete with respect to conversion. The ending work in process was 75% complete with respect to materials and 60% complete with respect to conversion. Required: 1. Prepare a cost of production report, in good form, for the Blending Department for the month ended March 31, 2021. Round all unit costs to 2 decimal places and round total costs to the whole dollar. 2. Prepare the journal entry to record the units completed and transferred from the Blending department to the Finishing department.

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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Green Craft Inc, uses a process costing system (weighted average method) and has two processing departments: Blending and Finishing. The following data relates to the Blending Department for the month of March: Units Material Conversion Work in process, beginning 800 $8,500 $5,100 Ünits started into production 5,000 Units completed and transferred 5,200 Work in process, ending 600 Cost added during March $25,965 S15.472 The beginning work in process inventory was 90% complete with respect to materials and 50% complete with respect to conversion. The ending work in process was 75% complete with respect to materials and 60% complete with respect to conversion. Required: 1. Prepare a cost of production report. in good form, for the Blending Department for the month ended March 31, 2021I Round all unit costs to 2 decimal places and round total costs to the whole dollar. 2. Prepare the journal entry to record the units completed and transferred from the Blending department to the Finishing department.
Transcribed Image Text:Green Craft Inc, uses a process costing system (weighted average method) and has two processing departments: Blending and Finishing. The following data relates to the Blending Department for the month of March: Units Material Conversion Work in process, beginning 800 $8,500 $5,100 Ünits started into production 5,000 Units completed and transferred 5,200 Work in process, ending 600 Cost added during March $25,965 S15.472 The beginning work in process inventory was 90% complete with respect to materials and 50% complete with respect to conversion. The ending work in process was 75% complete with respect to materials and 60% complete with respect to conversion. Required: 1. Prepare a cost of production report. in good form, for the Blending Department for the month ended March 31, 2021I Round all unit costs to 2 decimal places and round total costs to the whole dollar. 2. Prepare the journal entry to record the units completed and transferred from the Blending department to the Finishing department.
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