Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows: Bal., 600 units, 60% completed: Direct materials (600 x $7.40) $ 4,440 Conversion (600 x 60% x $3.10) 1,116 $ 5,556 From Cooking Department, 14,280 units $107,100 Direct labor 27,539 Factory overhead 14,829 During April, 600 units in process on April 1 were completed, and of the 14,280 units entering the department, all were completed except 1,600 units that were 20% completed. Charges to Work in Process—Filling for May were as follows: From Cooking Department, 16,400 units $126,280 Direct labor 37,580 Factory overhead 20,236 During May, the units in process at the beginning of the month were completed, and of the 16,400 units entering the department, all were completed except 800 units that were 80% completed. Required: 1. Enter the balance as of April 1 in a four-column account for Work in Process—Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Filling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Apr. 1 Bal., 600 units, 60% completed fill in the blank fill in the blank fill in the blank fill in the blank 30 Cooking Dept., 14,280 units at $7.50 fill in the blank fill in the blank fill in the blank fill in the blank 30 Direct labor fill in the blank fill in the blank fill in the blank fill in the blank 30 Factory overhead fill in the blank fill in the blank fill in the blank fill in the blank 30 Finished goods fill in the blank fill in the blank fill in the blank fill in the blank 30 Bal., 1,600 units, 20% completed fill in the blank fill in the blank fill in the blank fill in the blank If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) Units charged to production: Inventory in process, April 1 fill in the blank Received from Cooking Department fill in the blank Total units accounted for by the Filling Department fill in the blank Units to be assigned costs: Inventory in process, April 1 fill in the blank fill in the blank fill in the blank Started and completed in April fill in the blank fill in the blank fill in the blank Transferred to finished goods in April fill in the blank fill in the blank fill in the blank Inventory in process, April 30 fill in the blank fill in the blank fill in the blank Total units to be assigned costs fill in the blank fill in the blank fill in the blank Costs Costs Direct Materials Conversion Total Costs per equivalent unit: Total costs for April in Filling Department $fill in the blank $fill in the blank Total equivalent units fill in the blank fill in the blank Cost per equivalent unit (b) $fill in the blank $fill in the blank Costs charged to production: Inventory in process, April 1 $fill in the blank Costs incurred in April fill in the blank Total costs accounted for by the Filling Department $fill in the blank Cost allocated to completed and partially completed units: Inventory in process, April 1 balance (c) $fill in the blank To complete inventory in process, April 1 (c) $fill in the blank $fill in the blank fill in the blank Cost of completed April 1 work in process $fill in the blank Started and completed in April (c) fill in the blank fill in the blank fill in the blank Transferred to finished goods in April (c) $fill in the blank Inventory in process, April 30 (d) fill in the blank fill in the blank fill in the blank Total costs assigned by the Filling Department $fill in the blank 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank.

Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows: Bal., 600 units, 60% completed: Direct materials (600 x $7.40) $ 4,440 Conversion (600 x 60% x $3.10) 1,116 $ 5,556 From Cooking Department, 14,280 units $107,100 Direct labor 27,539 Factory overhead 14,829 During April, 600 units in process on April 1 were completed, and of the 14,280 units entering the department, all were completed except 1,600 units that were 20% completed. Charges to Work in Process—Filling for May were as follows: From Cooking Department, 16,400 units $126,280 Direct labor 37,580 Factory overhead 20,236 During May, the units in process at the beginning of the month were completed, and of the 16,400 units entering the department, all were completed except 800 units that were 80% completed. Required: 1. Enter the balance as of April 1 in a four-column account for Work in Process—Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, leave it blank. ACCOUNT Work in Process-Filling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Apr. 1 Bal., 600 units, 60% completed fill in the blank fill in the blank fill in the blank fill in the blank 30 Cooking Dept., 14,280 units at $7.50 fill in the blank fill in the blank fill in the blank fill in the blank 30 Direct labor fill in the blank fill in the blank fill in the blank fill in the blank 30 Factory overhead fill in the blank fill in the blank fill in the blank fill in the blank 30 Finished goods fill in the blank fill in the blank fill in the blank fill in the blank 30 Bal., 1,600 units, 20% completed fill in the blank fill in the blank fill in the blank fill in the blank If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) Units charged to production: Inventory in process, April 1 fill in the blank Received from Cooking Department fill in the blank Total units accounted for by the Filling Department fill in the blank Units to be assigned costs: Inventory in process, April 1 fill in the blank fill in the blank fill in the blank Started and completed in April fill in the blank fill in the blank fill in the blank Transferred to finished goods in April fill in the blank fill in the blank fill in the blank Inventory in process, April 30 fill in the blank fill in the blank fill in the blank Total units to be assigned costs fill in the blank fill in the blank fill in the blank Costs Costs Direct Materials Conversion Total Costs per equivalent unit: Total costs for April in Filling Department $fill in the blank $fill in the blank Total equivalent units fill in the blank fill in the blank Cost per equivalent unit (b) $fill in the blank $fill in the blank Costs charged to production: Inventory in process, April 1 $fill in the blank Costs incurred in April fill in the blank Total costs accounted for by the Filling Department $fill in the blank Cost allocated to completed and partially completed units: Inventory in process, April 1 balance (c) $fill in the blank To complete inventory in process, April 1 (c) $fill in the blank $fill in the blank fill in the blank Cost of completed April 1 work in process $fill in the blank Started and completed in April (c) fill in the blank fill in the blank fill in the blank Transferred to finished goods in April (c) $fill in the blank Inventory in process, April 30 (d) fill in the blank fill in the blank fill in the blank Total costs assigned by the Filling Department $fill in the blank 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter17: Process Cost Systems

Section: Chapter Questions

Problem 4PA: Work in process account data for two months; cost of production reports Hearty Soup Co. uses a...

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Work in Process Account Data for Two Months; Cost of Production Reports

Bal., 600 units, 60% completed:
	Direct materials (600 x $7.40)	$ 4,440
	Conversion (600 x 60% x $3.10)	1,116
	$ 5,556
From Cooking Department, 14,280 units	$107,100
Direct labor	27,539
Factory overhead	14,829

During April, 600 units in process on April 1 were completed, and of the 14,280 units entering the department, all were completed except 1,600 units that were 20% completed.
Charges to Work in Process—Filling for May were as follows:

From Cooking Department, 16,400 units	$126,280
Direct labor	37,580
Factory overhead	20,236

During May, the units in process at the beginning of the month were completed, and of the 16,400 units entering the department, all were completed except 800 units that were 80% completed.

Required:

1. Enter the balance as of April 1 in a four-column account for Work in Process—Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, leave it blank.

ACCOUNT	Work in Process-Filling Department		ACCOUNT NO.
	BALANCE
DATE	ITEM	POST. REF.	DEBIT	CREDIT	DEBIT	CREDIT
Apr. 1	Bal., 600 units, 60% completed		fill in the blank	fill in the blank	fill in the blank	fill in the blank
30	Cooking Dept., 14,280 units at $7.50		fill in the blank	fill in the blank	fill in the blank	fill in the blank
30	Direct labor		fill in the blank	fill in the blank	fill in the blank	fill in the blank
30	Factory overhead		fill in the blank	fill in the blank	fill in the blank	fill in the blank
30	Finished goods		fill in the blank	fill in the blank	fill in the blank	fill in the blank
30	Bal., 1,600 units, 20% completed		fill in the blank	fill in the blank	fill in the blank	fill in the blank

If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent.

Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30
	Whole Units	Equivalent Units
Units		Direct Materials (a)	Conversion (a)
Units charged to production:
Inventory in process, April 1	fill in the blank
Received from Cooking Department	fill in the blank
Total units accounted for by the Filling Department	fill in the blank
Units to be assigned costs:
Inventory in process, April 1	fill in the blank	fill in the blank	fill in the blank
Started and completed in April	fill in the blank	fill in the blank	fill in the blank
Transferred to finished goods in April	fill in the blank	fill in the blank	fill in the blank
Inventory in process, April 30	fill in the blank	fill in the blank	fill in the blank
Total units to be assigned costs	fill in the blank	fill in the blank	fill in the blank


Costs	Direct Materials	Conversion	Total
Costs per equivalent unit:
Total costs for April in Filling Department	$fill in the blank		$fill in the blank
Total equivalent units	fill in the blank		fill in the blank
Cost per equivalent unit (b)	$fill in the blank		$fill in the blank
Costs charged to production:
Inventory in process, April 1				$fill in the blank
Costs incurred in April				fill in the blank
Total costs accounted for by the Filling Department				$fill in the blank
Cost allocated to completed and partially completed units:
Inventory in process, April 1 balance (c)				$fill in the blank
To complete inventory in process, April 1 (c)	$fill in the blank		$fill in the blank	fill in the blank
Cost of completed April 1 work in process				$fill in the blank
Started and completed in April (c)	fill in the blank		fill in the blank	fill in the blank
Transferred to finished goods in April (c)				$fill in the blank
Inventory in process, April 30 (d)	fill in the blank		fill in the blank	fill in the blank
Total costs assigned by the Filling Department				$fill in the blank

2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank.

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