P4-1A - This one is also assigned for my managerial accounting class.

Calculate Equivalent Units, Unit Costs, and Transferred CostsWeighted Average Method Godfrey Manufacturing, Inc., operates a plant that produces its own regionallymarketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in ProcessBlending Department account for January 2016 is missing a few items: Work in Process-Blending Department January 1 inventory (5,000 gallons, 60% processed) Direct material $12,000 Conversion costs 5,900 Transferred to Bottling Department (60,000 gallons) January charges: Direct material (61,000 gallons) 152,500 Direct labor 73,600 Manufacturing overhead 48,800 January 31 inventory [ ? gallons, 70% processed] Required Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department: 1. Number of units in the January 31 inventory. 2. Equivalent units for materials and conversion costs. 3. January cost per equivalent unit for materials and conversion costs. 4. Cost of the units transferred to the Bottling Department. 5. Cost of the incomplete units in the January 31 inventory. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Godfrey Manufacturing,Inc. Blending Department Flow of Units and Equivalent Units Calculation, January 2016 Equivalent Units % Work done Complete/Transferred Answer Direct Materials Answer Answer % Work Done Answer % Ending Inventory a. Answer Answer Conversion Costs Answer % Answer Answer % Answer Godfrey Manufacturing,Inc. Blending Department Flow of Units and Equivalent Units Calculation, January 2016 Equivalent Units % Work done Direct Materials % Work Done Conversion Costs % Total Answer Answer b. Answer b. Product Cost Report Direct Materials Beginning Inventory $Answer $Answer Answer Answer Conversion Costs $Answer Answer Current $Answer Total Costs to Account For $Answer $Answer Answer Total Equivalent Units Answer $Answer Average cost / Equivalent unit (round 4 decimal places) Complete / Transferred: Direct Materials $Answer Answer Conversion costs $Answer Cost of Goods Manufactured Ending Inventory: Direct Materials Conversion costs $Answer c . $Answer Answer d. c. Product Cost Report Direct Materials $Answer Cost of Ending Inventory e. $Answer Total Costs Allocated Conversion Costs \fCalculate Equivalent Units, Unit Costs, and Transferred CostsWeighted Average Method Godfrey Manufacturing, Inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Work in Process-Blending Department January 1 inventory (5,000 gallons, 60% processed) Direct mater $12,000 Conversion c 5,900 Transferred January charges: Direct materi 152,500 Direct labor 73,600 Manufacturi 48,800 January 31 i Required Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the 1. Number of units in the January 31 inventory. 2. Equivalent units for materials and conversion costs. 3. January cost per equivalent unit for materials and conversion costs. 4. Cost of the units transferred to the Bottling Department. 5. Cost of the incomplete units in the January 31 inventory. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations Unit cost information Units to account for Beginning goods in process Units started this period Units accounted for 5,000 Completed & transferred out 61,000 Ending goods in process Total units to account for 66,000 Total units accounted for Godfrey Manufacturing,Inc. Blending Department Flow of Units and Equivalent Units Calculation, January 201 Equivalent Units % Work done Completed / transferred Ending Inventory Total 60,000 6,000 66,000 100.00% 100.00% Product Cost Report Direct Materials Beginning Inventory Current Total Costs to Account For 17,900 274,900 292,800 Total Equivalent Units Average cost / Equivalent unit (round 4 decimal places) Complete / Transferred: Direct Materials Conversion costs Cost of Goods Manufactured 149,545 119,907 269,452 Ending Inventory: Direct Materials Conversion costs Cost of Ending Inventory Total Costs Allocated 14,955 8,393 23,348 292,800 12,000 152,500 164,500 66,000 2.4924 erage Method y-marketed Spicy Steak overhead are incurred The following data from the Work in ProcessBlending Department account for January 2016 is missing a few items: lculate the following amounts for the Blending Department: answers for subsequent calculations. Round other answers to the nearest whole number. counted for ted & transferred out goods in process 60,000 6,000 nits accounted for 66,000 Manufacturing,Inc. Blending Department and Equivalent Units Calculation, January 2016 Equivalent Units Direct % Work Conversion Materials Done Costs 60,000 6,000 66,000 rt Conversion Costs 5,900 122,400 128,300 64,200 1.9984 100.00% 70.00% 60,000 4,200 64,200 is missing a few items