Cost of Production and Journal Entries Date Item Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp Is first placed into a vessel at the beginning of papermaking production. The following information concerns production in the Papermaking Department for March: Account Work in Process - Papermaking Department Account No. Balance Debit Credit Debit Credit Mar. 1 Bal., 8,900 units, 30% completed 19,936 31 Direct materials, 47,500 units 76,000 95,936 31 Direct labor 23,160 119,096 31 Factory overhead 13,023 132,119 31 Goods transferred, 53,000 units 31 Bal., 3,400 units, 40% completed ? a1. Prepare the March Journal entry for the Papermaking Department for the materials charged to production. If an amount box does not require an entry, leave it blank. Di ? a2. Prepare the March journal entry for the Papermaking Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. 99 a w 0x D urses - Blue R...Cengage M WebMail Google Docs BodyBuilding.com Home - Blue Ridge... BRCC IT al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. If an amount box does not require an entry leave it blank. a2. Prepare the March journal entry for the Papermaking Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. a3. Prepare the March Journal entry for the Papermaking Department for the completed production transferred to the Converting Department. If an amount box does not require an entry, leave it blank. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar. b. Determine the Work in Process ---Papermaking Department March 31 balance. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar. Credit Oct. Cost of Production Report Bavarian 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 October 31: ACCOUNT Work in Process-Blending Department ACCOUNT NO. Balance Date Item Debit Debit Credit 1 Bal., 2,300 units, 3/5 completed 46,368 31 Direct materials, 26,000 units 429,000 475,368 31 Direct labor 100,560 575,928 31 Factory overhead 48,480 624,408 31 Goods transferred, 25,700 units 31 Bal., 2 units, 1/5 completed Required: 1. Prepare a cost of production report and identify the missing amounts for Work In Process--Blending Department. If an amount box does not require an entry, leave it blank. 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 ? ? a 1. Prepare a cost of production report and identify the missing amounts for Work in Process--Blending Department. If an amount box does not require an entry, leave it blank. 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 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 CLB, SON nation Neyt Courses - Blue R... Cengage M WebMail Home - Blue Ridge.. BRCC IT Google Docs BodyBuilding.com 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 k 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 Ramen 99+ al w BodyBuilding.com Home - Blue Ridge... BRCC IT Courses - Blue R... Cengage M WebMail Google Docs vency processo 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 III 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. Increase or Decrease Amount Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Check My Work 10 more Check My Work uses remaining, Previous Next