2. (20 points) Prepare a Schedule of Cost of Goods Sold for the month. Assuming the under- applied overhead is closed to cost of goods sold. IV. The Hershey Corp. makes candy for the retail consumer market. One product is the well- known, Chocolate Kiss. It does so in the following departments: Melting, Molding, and Wrapping. In the Melting Department, the food ingredients including unsweetened chocolate are placed in large melting vats along with sugar in specific proportions. They are melted together in order to perfect their well-known candy. The result is a gooey-blend of melted chocolate. This mixture is transferred from the Melting Dept to the Molding Dept., and is placed in aluminum molds that are shaped like the final product, Chocolate Kisses. The molds are cooled for the required time until hardened. After the chocolate is cooled, it is transferred to the Wrapping Dept. In the Wrapping Dept., the solid chocolate pieces are wrapped with silver foil, and a small white paper strip bearing the product's name is inserted. Once individually wrapped, they are placed in a consumer-style bag ready to sell in supermarkets. The Company uses the weighted average method in its process costing system. Data for June in the Molding Dept. follows: Hershey Corp. - Molding Dept. Units Melting Conversion Work in process inventory, June 1 5,000 100% 20% Work in process inventory, June 30 8,000 100% 25% 2. (20 points) Prepare a Schedule of Cost of Goods Sold for the month. Assuming the under- applied overhead is closed to cost of goods sold. IV. The Hershey Corp. makes candy for the retail consumer market. One product is the well- known, Chocolate Kiss. It does so in the following departments: Melting, Molding, and Wrapping. In the Melting Department, the food ingredients including unsweetened chocolate are placed in large melting vats along with sugar in specific proportions. They are melted together in order to perfect their well-known candy. The result is a gooey-blend of melted chocolate. This mixture is transferred from the Melting Dept to the Molding Dept., and is placed in aluminum molds that are shaped like the final product, Chocolate Kisses. The molds are cooled for the required time until hardened. After the chocolate is cooled, it is transferred to the Wrapping Dept. In the Wrapping Dept., the solid chocolate pieces are wrapped with silver foil, and a small white paper strip bearing the product's name is inserted. Once individually wrapped, they are placed in a consumer-style bag ready to sell in supermarkets. The Company uses the weighted average method in its process costing system. Data for June in the Molding Dept. follows: Hershey Corp. - Molding Dept. Units Melting Conversion Work in process inventory, June 1 5,000 100% 20% Work in process inventory, June 30 8,000 100% 25%