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. Balance Date Item Debit Credit - Debit Credit Mar. 1 Bal., 5,000 units, 1/5 completed 9,600 31 Direct materials, 200,000 units 380,000 389,600 31 Direct labor 80,300 469,900 31 Factory overhead 20,100 490,000 31 Goods transferred, 201,000 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 is zero, enter "0". 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: Equivalent Units Whole Direct Units Materials Conversion Inventory in process, March 1 Started and completed in March Transferred to Molding Department in March Inventory in process, March 31 Total units to be assigned costs 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: 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