DATA REVIEW VIEW FORMULAS AA Wrap Text FILE HOME INSERT PAGE LAYOUT Cut Calibri 11 Paste Format Painter BIU.B. S Clipboard Font Copy E E Merge & Center 88 Conditional Format as Cell Formatting Table Styles Inse Alignment 041 X fx Production Cost Report: Weighted Average Method. Quality Confections Company manufactures chocolate bars in two processing departments, Mixing and Packaging, and uses the weighted average method for its process costing system. The table that follows shows information for the Mixing department for the month of March. Mixing 2 Unit Information (Measured in Pounds) 3 Beginning work-in-process inventory 4 Started or transferred in during the month Ending work-in-process inventory: 80 percent materials, 70 percent labor, and 60 percent 5 overhead 8,000 230,000 6,000 7 Cost Information Beginning Work-in-Process Inventory Direct materials 3,000 Direct labor 1,500 Overhead 2,200 Costs incurred during the Period Direct materials 103,000 Direct labor 55,000 Overhead 81,000 Required: 1. Prepare a production cost report for the Mixing department for the month of March. (Use the Exel format as demonstrated in the lecture, as wapen Format Painter Clipboard S A L E Merge & Center 5 % . Conditional Formatas Call Formatting Table Styles Styles Insert Delete Form . . . Alignment 15 Overhead 81,000 16 Required: 1. Prepare a production cost report for the Mixing department for the month of March. (Use the Exel format as demonstrated in the lecture, as 17 outlined below) Complete the wor 2. Confirm that total costs to be accounted for (from step 2) equals total costs accounted for (from step 4); minor differences may occur due to 18 rounding the cost per equivalent unit in step 3. 3. According to the production cost report, what is the total cost per equivalent unit for the work performed in the Mixing department? Which of the 19 three product cost components is the highest, and what percent of the total does this product cost represent? DM Physical Units X Complete EUP % Complete EUP % Complete EUP BWIP 5/C 25 EWIP 26 EUP 28 Costs: 29 Beginning 30 Started (Added this period) FILE REVIEW S FORMULAS DATA AA === A F E R VIEW Wrap Text Merge & Center - J Copy E $ . % * HOME INSERT PAGE LAYOUT X Cut Calibri 11 Paste Format Painter BIU . .. Clipboard 35. CA1 X & fx Conditional Format as Cell Formatting Table Styles Styles Insert - Font Alignment UNITS UNITS BWIP Started To Act For: TO (BWIP) = S/C -OR- STARTED (EWIP) = S/C EWIP Accounted For ** Note that started and I are the same thing. 3. According to the production cost report, what is the total cost per equivalent unit for the work performed in the Mixing department? Which of the 51 three product cost components is the highest, and what percent of the total does this product cost represent? 425 427 4.32 4.33 Quiz type Quiz Type 2 READY
