Calculator Cost of Production Report Venus Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the Molding Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at March 31, 2016 ACCOUNT Work in Process-Blending Department ACCOUNT NO. Date Item Debit Credit Mar. 1 Bal., 5,100 units, 4/5 completed 31 Direct materials, 204,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 205,000 units 31 Bal., 2 units, 4/5 completed Required: Balance Debit Credit 11,628 399,228 480,928 501,328 387,600 81,700 20,400 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero, enter "o". When computing cost per equivalent units, round to two decimal places. Venus Chocolate Company Cost of Production Report-Blending Department For the Month Ended March 31, 2016 Unit Information Units charged to production: Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Blending Department Units to be assigned costs: Unit Information Units charged to production: Inventory in process, March 1 5.100 Received from materials storeroom 204,000 255,000 Total units accounted for by the Blending Department Units to be assigned costs: Whole Units Conversion Equivalent Units Direct Materials 0 199,900 5,100 Inventory in process, March 1 Started and completed in March 1 .020 199,900 199.900 Transferred to Molding Department in March 199,900 194,800 Inventory in process, March 31 4,100 Total units to be assigned costs 209,100 204,000 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for March in Blending Department Total equivalent units Cost per equivalent unit Costs charged to production: Direct Materials Conversion Total Inventory in process, March 1 Costs incurred in March Total costs for March in Blending Department Total equivalent units Cost per equivalent unit Costs charged to production: Direct Materials Conversion Total Inventory in process, March 1 Costs incurred in March Total costs accounted for by the Blending Department Cost allocated to completed and partially completed units: Inventory in process, March 1 balance To complete inventory in process, March 1 Cost of completed March 1 work in process Started and completed in March Transferred to Molding Department in March Inventory in process, March 31 Total costs assigned by the Blending Department 2. Assuming that the March 1 work in process inventory includes $9,180 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit