Cost of Production Report Required: 1. Prepare a cost of production report, and
ID: 2569294 • Letter: C
Question
Cost of Production Report
Required:
1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Blending Department. If an amount is zero enter "0". If required, round your cost per equivalent unit answers to the nearest cent.
Bavarian Chocolate Company
Cost of Production Report-Blending Department
For the Month Ended October 31, 2014
Inventory in process, October 1
Received from materials storeroom
Total units accounted for by the Blending Department
Equivalent Units
Whole Units
Direct Materials
Conversion
Inventory in process, October 1
Started and completed in October
Transferred to Molding Department in October-
Inventory in process, October 31
Total units to be assigned costs
Direct Materials
Conversion
Total costs for October in Blending Department
$
$
Total equivalent units
Cost per equivalent unit
$
$
Direct Materials
Conversion
Total
Inventory in process, October 1
$
Costs incurred in October
Total costs accounted for by the Blending Department
$
Cost allocated to completed and partially completed units:
Inventory in process, October 1 balance
$
To complete inventory in process, October 1
$
Cost of completed October 1 work in process
$
Started and completed in October
$
Transferred to Molding Department in October
$
Inventory in process, October 31
Total costs assigned by the Blending Department
$
2. Assuming that the October 1 work in process inventory includes direct materials of $38,295, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between September and October. If required, round your answers to two decimal places.
Hide1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Blending Department. If an amount is zero enter "0". If required, round your cost per equivalent unit answers to the nearest cent.
Bavarian Chocolate Company
Cost of Production Report-Blending Department
For the Month Ended October 31, 2014
Unit Information Units charged to production:Inventory in process, October 1
Received from materials storeroom
Total units accounted for by the Blending Department
Units to be assigned costs:
Equivalent Units
Whole Units
Direct Materials
Conversion
Inventory in process, October 1
Started and completed in October
Transferred to Molding Department in October-
Inventory in process, October 31
Total units to be assigned costs
Cost Information Costs per equivalent unit:
Direct Materials
Conversion
Total costs for October in Blending Department
$
$
Total equivalent units
Cost per equivalent unit
$
$
Costs charged to production:Direct Materials
Conversion
Total
Inventory in process, October 1
$
Costs incurred in October
Total costs accounted for by the Blending Department
$
Cost allocated to completed and partially completed units:
Inventory in process, October 1 balance
$
To complete inventory in process, October 1
$
Cost of completed October 1 work in process
$
Started and completed in October
$
Transferred to Molding Department in October
$
Inventory in process, October 31
Total costs assigned by the Blending Department
$
Explanation / Answer
Bavarian Chocolate Company Cost of Production Report-Blending Department For the Month Ended October 31, 2014 Unit Information Units charged to production: Inventory in process, October 1 2300 Received from materials storeroom 26000 Total units accounted for by the Blending Department 28300 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, October 1 2300 0 920 Started and completed in October 23400 23400 23400 Transferred to Molding Department in October 25700 23400 24320 Inventory in process, October 31 2600 2600 520 Total units to be assigned costs 28300 26000 24840 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for October in Blending Department 429000 149040 Total equivalent units 26000 24840 Cost per equivalent unit 16.50 6.00 Costs charged to production: Direct Materials Conversion Total Inventory in process, October 1 46368 Costs incurred in October 578040 Total costs accounted for by the Blending Department 624408 Cost allocated to completed and partially completed units: Inventory in process, October 1 balance 46368 To complete inventory in process, October 1 0 5520 5520 Cost of completed October 1 work in process 51888 Started and completed in October 386100 140400 526500 Transferred to Molding Department in October 578388 Inventory in process, October 31 42900 3120 46020 Total costs assigned by the Blending Department 624408 Increase or Decrease Amount Change in direct materials cost per equivalent unit Decrease 0.15 Change in conversion cost per equivalent unit Increase 0.15