Production: Units in process, April 1 (60% complete) Units completed and transferred out Units in process, April 30 (20% complete) 20,000 50,000 10,000 Costs: $ 93,600 WIP, April 1 Costs added during April 314,600

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 14EA: A production department within a company received materials of $10,000 and conversion costs of...
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Production Report, Weighted Average


Mino Inc. manufactures chocolate syrup in three departments: cooking, mixing, and bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.):

 

 

 

 

Required:


Prepare a production report for the cooking department.

Production:
Units in process, April 1 (60% complete)
Units completed and transferred out
Units in process, April 30 (20% complete)
20,000
50,000
10,000
Costs:
$ 93,600
WIP, April 1
Costs added during April
314,600
Transcribed Image Text:Production: Units in process, April 1 (60% complete) Units completed and transferred out Units in process, April 30 (20% complete) 20,000 50,000 10,000 Costs: $ 93,600 WIP, April 1 Costs added during April 314,600
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