Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 400 units, 70% completed: Direct materials (400 x $ 1,720 $4.30) Conversion (400 x 70% x 504 $1.80) $ 2,224 From Cooking Department, $41,008 9,320 units Direct labor 10,992 Factory overhead 5,918 During April, 400 units in process on April 1 were completed, and of the 9,320 units entering the department, all were completed except 900 units that were 40% completed. Charges to Work in Process-Filling for May were as follows: From Cooking Department, $49,220 10,700 units Direct labor 14,090 Factory overhead 7,590 During May, the units in process at the beginning of the month were completed, and of the 10,700 units entering the department, all were completed except 500 units that were 20% completed. Required: 1. Enter the balance as of April 1 in a four-column account for Work in Process-Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, Teave it blank. ACCOUNT Filling Department ACCOUNT Work in Process- ACCOUNT NO. BALANCE DATE ITEM POST. DEBIT CREDIT DEBIT CREDIT Bal., 400 units, Apr. 1 70% completed Cooking Dept., units at $4.40 Direct labor Factory overhead 30 Finished goods Bal., 900 30 units 40% completed 30 9,320 30 30 If an amount is zero, enter in a zero "O". Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 36 White Equivalent Units Units Materials Conversion () Units charged to production: Inventory in process, April 1 Received from Cooking Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, April 1 Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 While Equivalent Units Direct Units Materials Conversion Units charged to production: Inventory in process, April 1 Received from Cooking Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, April 1 Started and completed in April | Transferred to finished goods in April Inventory in process, April 30 Total units to be assigned costs Costs Materials conversion Total Costs Costs per equivalent unit: Total costs for April in Filling Department Total equivalent units Cost per equivalent unit (b) Costs charged to production: Inventory in process, April 1 Costs incurred in April Total costs accounted for by the Filling Department Cost allocated to completed and partially completed Snits: $ Inventory in process, April 1 balance (c) To complete inventory in process, April 1 (c) Cost of completed April 1 work in process $ $ Started and completed in April (C) IITT Transferred to finished goods in April (c) Inventory in process, April 30 (d) Total costs assigned by the Filling Department 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank. 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank. 31 ACCOUNT Work in Process- ACCOUNT Filling Department NO. Balance DATE ITEM POST. DE TREE DEBIT CREDIT DEBIT CREDIT May 1 Balance Cooking Dept., 10,700 units at $4.6 Direct labor Factory overhead Finished goods Bal., 500 units, 20% completed 31 31 If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended May 31 Units Equivalent Units Direct ca Materials Conversion a (a) Units Units charged to production: Inventory in process, May 1 Received from Cooking Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, May 1 Started and completed in May Transferred to finished goods in May Inventory in process, May 31 Total units to be assigned costs Costs is Conversion Total A Costs Costs per equivalent unit: Total costs for May in Filling Department Total equivalent units Cost per equivalent unit (b) |Costs charged to production: Inventory in process, May 1 Costs incurred in May Total costs accounted for by the Filling Department Cost allocated to completed and partially completed units: Inventory in process, May 1 balance (c) To complete inventory in process, May 1 (C) $ Cost of completed May 1 work in process Started and completed in May (c) Transferred to finished goods in May (c) Inventory in process, May 31 (d) Total costs assigned by the Filling Department 3. The cost per equivalent unit for direct materials from March to May. The cost per equivalent unit for conversion costs These changes be investigated for their underlying causes, and any necessary corrective actions should be taken. from March to May. Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 400 units, 70% completed: Direct materials (400 x $ 1,720 $4.30) Conversion (400 x 70% x 504 $1.80) $ 2,224 From Cooking Department, $41,008 9,320 units Direct labor 10,992 Factory overhead 5,918 During April, 400 units in process on April 1 were completed, and of the 9,320 units entering the department, all were completed except 900 units that were 40% completed. Charges to Work in Process-Filling for May were as follows: From Cooking Department, $49,220 10,700 units Direct labor 14,090 Factory overhead 7,590 During May, the units in process at the beginning of the month were completed, and of the 10,700 units entering the department, all were completed except 500 units that were 20% completed. Required: 1. Enter the balance as of April 1 in a four-column account for Work in Process-Filling. Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost per equivalent unit; (c) cost of goods finished, differentiating between units started in the prior period and units started and finished in April; and (d) work in process inventory. If an amount box does not require an entry, Teave it blank. ACCOUNT Filling Department ACCOUNT Work in Process- ACCOUNT NO. BALANCE DATE ITEM POST. DEBIT CREDIT DEBIT CREDIT Bal., 400 units, Apr. 1 70% completed Cooking Dept., units at $4.40 Direct labor Factory overhead 30 Finished goods Bal., 900 30 units 40% completed 30 9,320 30 30 If an amount is zero, enter in a zero "O". Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 36 White Equivalent Units Units Materials Conversion () Units charged to production: Inventory in process, April 1 Received from Cooking Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, April 1 Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 While Equivalent Units Direct Units Materials Conversion Units charged to production: Inventory in process, April 1 Received from Cooking Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, April 1 Started and completed in April | Transferred to finished goods in April Inventory in process, April 30 Total units to be assigned costs Costs Materials conversion Total Costs Costs per equivalent unit: Total costs for April in Filling Department Total equivalent units Cost per equivalent unit (b) Costs charged to production: Inventory in process, April 1 Costs incurred in April Total costs accounted for by the Filling Department Cost allocated to completed and partially completed Snits: $ Inventory in process, April 1 balance (c) To complete inventory in process, April 1 (c) Cost of completed April 1 work in process $ $ Started and completed in April (C) IITT Transferred to finished goods in April (c) Inventory in process, April 30 (d) Total costs assigned by the Filling Department 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank. 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report and present the May computations (a through d) listed in part (1). If an amount box does not require an entry, leave it blank. 31 ACCOUNT Work in Process- ACCOUNT Filling Department NO. Balance DATE ITEM POST. DE TREE DEBIT CREDIT DEBIT CREDIT May 1 Balance Cooking Dept., 10,700 units at $4.6 Direct labor Factory overhead Finished goods Bal., 500 units, 20% completed 31 31 If an amount is zero, enter in a zero "0". Round cost per unit answers to the nearest cent. Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended May 31 Units Equivalent Units Direct ca Materials Conversion a (a) Units Units charged to production: Inventory in process, May 1 Received from Cooking Department Total units accounted for by the Filling Department Units to be assigned costs: Inventory in process, May 1 Started and completed in May Transferred to finished goods in May Inventory in process, May 31 Total units to be assigned costs Costs is Conversion Total A Costs Costs per equivalent unit: Total costs for May in Filling Department Total equivalent units Cost per equivalent unit (b) |Costs charged to production: Inventory in process, May 1 Costs incurred in May Total costs accounted for by the Filling Department Cost allocated to completed and partially completed units: Inventory in process, May 1 balance (c) To complete inventory in process, May 1 (C) $ Cost of completed May 1 work in process Started and completed in May (c) Transferred to finished goods in May (c) Inventory in process, May 31 (d) Total costs assigned by the Filling Department 3. The cost per equivalent unit for direct materials from March to May. The cost per equivalent unit for conversion costs These changes be investigated for their underlying causes, and any necessary corrective actions should be taken. from March to May