Mastery Problem: Process Cost Systems

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 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.

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 346bd2069f91015_1	fill in the blank 346bd2069f91015_2
Started and completed in March	35,000	35,000	35,000
Transferred to Baking Department in March	37,000	fill in the blank 346bd2069f91015_3	fill in the blank 346bd2069f91015_4
Inventory in process, March 31 (80% completed)	3,000	fill in the blank 346bd2069f91015_5	fill in the blank 346bd2069f91015_6
Total units to be assigned costs	40,000	fill in the blank 346bd2069f91015_7	fill in the blank 346bd2069f91015_8
Cost Information
Cost per equivalent unit:
		Direct Materials	Conversion
Total costs for March in Mixing Department		$40,660	$36,765
Total equivalent units		fill in the blank 346bd2069f91015_9	fill in the blank 346bd2069f91015_10
Cost per equivalent unit		$fill in the blank 346bd2069f91015_11	$fill in the blank 346bd2069f91015_12
Costs assigned to production:
	Direct Materials	Conversion	Total
Inventory in process, March 1	$2,200	$525	$2,725
Costs incurred in March			77,425
Total costs accounted for by the Mixing Department			$80,150
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 346bd2069f91015_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 346bd2069f91015_14
Inventory in process, March 31	3,210	2,280	fill in the blank 346bd2069f91015_15
Total costs assigned by the Mixing Department			$fill in the blank 346bd2069f91015_16