Grainy Goodness Company Grainy Goodness Company manufactures granola cereal by a series of three processes, beginning materials such as oats, sweeteners, and nuts being introduced in the Moxing Department. From the Maxing Department, the materials pass through the Baking and Packaging departments, emerging as boxed granola cereal ready for shipment to retail outlets. Direct matenats are added at the beginning of each process, and conversion costs are incumed eventy throughout production in each department During March, the President and sole stockholder, Jonathan Groat, reviewed the Cost of Production Reed for the Moxing Department He is concemed that the Mixing Department may not be operating efficiently, and asks for your help Required: 1 Jonathan has noticed that his production manager has omitted some of the dats on the Cost of Production panel Determine the missing information if there is no amount or an amount is zero, enter "0" 2. On the February Cost Analysis panel, determine the cost per unt of direct materials and for conversion for the month of Februarying the completed data on the Cost of Production panel 3. On the March Cost Analysis panel, determine the cost per unit of direct materials and for conversion for the month of March using the completed data on the Cost of Production panel 4. After reviewing your work on the February Cost Analysis and March Cost Analysis panels assist Jonaman Groat in evaluating the Mong Department's performance by answering the questions on the Moxing Dept Evaluation panel 5. On March 31, using the data provided on the panels, journalize the entry to move the appropriate amount of cost from the Mixing Department to the Baking Department Refer to the Chart of Accounts for exact wording of accounts "Round your per-unit computations to the nearest cent, if required Problem: Process Cost Systems y Goodness Company Chart of Accounts Cost of Production February Soodness Company art of Accounts Grainy Goodness Company General Ledger ASSETS 110 Cash 112 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 141 Work in Process-Mixing 142 Work in Process-Baking 143 Work in Process-Packaging 151 Factory Overhead-Mixing 152 Factory Overhead-Baking 153 Factory Overhead-Packaging 161 Finished Goods. 171 Office Supplies REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 529 Selling Expenses 531 Utilities Expense 532 Depreciation Expense-Factory 533 Insurance Expense 534 Office Supplies Expense 540 Administrative Expenses 590 Miscellaneous Expense 172 Prepaid Insurance 710 Interest Expense 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory Goodness Company Chart of Accounts Cost of Production Fe Goodness Company t of Accounts TOT TESTICU QUOUS 171 Office Supplies 172 Prepaid Insurance 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 215 Notes Payable 221 Utilities Payable 236 Interest Payable 251 Wages Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary 13 GRAINY GOODNESS COMPANY Cost of Production Report-Mixing Department For the Month Ended March 31 Equivalent Units UNITS Whole Units Direct Materials Conversion Units charged to production: Inventory in process, March 1 2,000 Received from materials storeroom 38,000 Total units accounted for by the Mixing Department 40,000 Units to be assigned costs: Inventory in process, March 1 (40% completed) 2,000 0 1,200 Started and completed in March 35,000 35,000 35,000 Transferred to Baking Department in March 37,000 35,000 36,200 inventory in process, March 31 (80% completed) 3,000 3,000 Total units to be assigned costs 40,000 38,000 brainy Goodness Company Cost of Production COSTS Costs Direct Materials Conversion Total Cost per equivalent unit Total costs for March in Mixing Department $41,420 Total equivalent units 38,000 Cost per equivalent unit $1.09V Costs assigned to production Inventory in process, March 11 Costs incurred in March Total costs accounted for by the Mixing Department Cost allocated to completed and partially completed units: $38,600 $2,300 $640 $2,940 80,020 $82,960 Inventory in process, March 1 balance To complete inventory in process, March 11 $2,940 $0.00 $1,200 1,200 Cost of completed March 1 work in process $4,140 Started and completed in March 38,150 35,000 73,150 Transferred to Baking Department in March $ Inventory in process, March 31 3,270 2,400 ck My Work Shaded cells hav Grainy Goodness Company Cost of Production Costs assigned to production Inventory in process, March 1 Costs incurred in March Total costs accounted for by the Mixing Department Cost allocated to completed and partially completed units Inventory in process, March 1 balance $2,300 $640 $2,940 80,020 $82,960 Shaded $2,940 To complete inventory in process, March 1 $0.00 $1,200 1,200 Cost of completed March 1 work in process $4,140 Started and completed in March 38,150 35,000 73,150 Transferred to Baking Department in March Inventory in process, March 31 3,270 2,400 Total costs assigned by the Moxing Department $ Points: Feedback February Cost Analysis 2. Determine the coat per unit of direct materials and for conversion for the month of February using the completed date on the Coat of Produce panel mound your per and cohe Cost Analysis for February Mixing Depart Amount Direct Maria in inventory in process March 15 Conversion costs in inventory in praces March 1 Total cost per unt Cost per Unit Feeback Check My Wik Lack for the dole amount and number of equivalent uns an the Cast of Production Report that pertain to the inventory in proces March 1 Don't forget that dred masaa at the ben of the in proces March 1 The conserven cats are only partuty complete March Cast Analysis 3. Deine the cost per unt of drect mater and for conversion for the month of March uning the completed data on the Cost of Production panel Round your per unt computations to the actu Cost Analysis for March. Mixing Department Cats for March Dred Materies Costs for March Conversion Amount Equivalent Units Cost per Total cost per S Feedback Check My Work Look for the dollar amount and number of equivalent units on the Cost of Production Report that pertain to the costs and units added in March Don't hegel that dired materials are added at the beginning of the process. The co evely through the month Journal 3. On March 21, ung the data provided on the panels, joumalize the entry to move the appropriate amount of cost bom the Mixing Department is the Baking Department Refer to the Chart of Accounts react wording of DATE DESCRIPTION Work in ProBaking Work in Process-Baking Fuck JOURNAL PAGE 16 Score: 8/25 ACCOUNTING EQUATION POST CHERY AATS FOURTY 136/5