Question
Grainy Goodness Company manufactures granola cereal by a series of three processes, beginning materials such as oats, sweeteners, and nuts being introduced in the Mixing
Grainy Goodness Company manufactures granola cereal by a series of three processes, beginning materials such as oats, sweeteners, and nuts being introduced in the Mixing Department. From the Mixing Department, the materials pass through the Baking and Packaging departments, emerging as boxed granola cereal ready for shipment to retail outlets. Direct materials are added at the beginning of each process, and conversion costs are incurred evenly throughout production in each department.
During March, the President and sole stockholder, Jonathan Groat, reviewed the Cost of Production Report for the Mixing Department. He is concerned that the Mixing Department may not be operating efficiently, and asks for your help.
Question Content Area
Cost of Production
Jonathan has noticed that his production manager has omitted some of the data on the Cost of Production. Determine the missing information. If there is no amount or an amount is zero, enter "0". Round your per-unit computations to the nearest cent, if required.
Grainy Goodness Company | |||
Cost of Production Report-Mixing Department | |||
For the Month Ended March 31 | |||
Unit Information | |||
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: | |||
Equivalent Units | |||
Whole Units | Direct Materials | Conversion | |
Inventory in process, March 1 (35% completed) | 2,000 | fill in the blank d512ef00101cfde_1 | fill in the blank d512ef00101cfde_2 |
Started and completed in March | 35,000 | 35,000 | 35,000 |
Transferred to Baking Department in March | 37,000 | fill in the blank d512ef00101cfde_3 | fill in the blank d512ef00101cfde_4 |
Inventory in process, March 31 (90% completed) | 3,000 | fill in the blank d512ef00101cfde_5 | fill in the blank d512ef00101cfde_6 |
Total units to be assigned costs | 40,000 | fill in the blank d512ef00101cfde_7 | fill in the blank d512ef00101cfde_8 |
Cost Information | |||
Cost per equivalent unit: | |||
Direct Materials | Conversion | ||
Total costs for March in Mixing Department | $40,660 | $37,050 | |
Total equivalent units | fill in the blank d512ef00101cfde_9 | fill in the blank d512ef00101cfde_10 | |
Cost per equivalent unit | $fill in the blank d512ef00101cfde_11 | $fill in the blank d512ef00101cfde_12 | |
Costs assigned to production: | |||
Direct Materials | Conversion | Total | |
Inventory in process, March 1 | $2,200 | $525 | $2,725 |
Costs incurred in March | 77,710 | ||
Total costs accounted for by the Mixing Department | $80,435 | ||
Cost allocated to completed and partially completed units: | |||
Inventory in process, March 1-balance | $2,725 | ||
To complete inventory in process, March 1 | fill in the blank d512ef00101cfde_13 | 1,235 | 1,235 |
Cost of completed March 1 work in process | $3,960 | ||
Started and completed in March | 37,450 | 33,250 | 70,700 |
Transferred to Baking Department in March | $fill in the blank d512ef00101cfde_14 | ||
Inventory in process, March 31 | 3,210 | 2,565 | fill in the blank d512ef00101cfde_15 |
Total costs assigned by the Mixing Department | $fill in the blank d512ef00101cfde_16 | ||
Determine the cost per unit of direct materials and for conversion for the month of February using the completed data on the Cost of Production. Round your per-unit computations to the nearest cent, if required.
Cost Analysis for February - Mixing Department | |||
Amount | Equivalent Units | Cost per Unit | |
Direct Materials in inventory in process, March 1 | $fill in the blank e49cf00e501a003_1 | fill in the blank e49cf00e501a003_2 | $fill in the blank e49cf00e501a003_3 |
Conversion costs in inventory in process, March 1 | fill in the blank e49cf00e501a003_4 | fill in the blank e49cf00e501a003_5 | fill in the blank e49cf00e501a003_6 |
Total cost per unit | $fill in the blank e49cf00e501a003_7 |
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. Round your per-unit computations to the nearest cent, if required.
Cost Analysis for March- Mixing Department | |||
Amount | Equivalent Units | Cost per Unit | |
Costs for March: Direct Materials | $fill in the blank 46e92506f01afdd_1 | fill in the blank 46e92506f01afdd_2 | $fill in the blank 46e92506f01afdd_3 |
Costs for March: Conversion | fill in the blank 46e92506f01afdd_4 | fill in the blank 46e92506f01afdd_5 | fill in the blank 46e92506f01afdd_6 |
Total cost per unit | $fill in the blank 46e92506f01afdd_7 |
On March 31, using the data provided on the Cost of Production, journalize the entry to move the appropriate amount of cost from the Mixing Department to the Baking Department. If an amount box does not require an entry, leave it blank.
Mar. 31 | Factory Overhead-MixingFactory Overhead-BakingFactory Overhead-PackagingWork in Process-BakingWork in Process-MixingWork in Process-Baking | Work in Process-Baking | Work in Process-Baking |
Factory Overhead-MixingFactory Overhead-BakingFactory Overhead-PackagingWork in Process-BakingWork in Process-MixingWork in Process-Mixing | Work in Process-Mixing | Work in Process-Mixing |
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