Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please fill in ALL the blanks using the information provided :) Blossom Company uses the weighted-average processcoSt system. The Molding Department adds materials at the

image text in transcribed
Please fill in ALL the blanks using the information provided :)
image text in transcribed

Blossom Company uses the weighted-average processcoSt system. The Molding Department adds materials at the beginning of the process and conversion costs are incurred uniformly throughout the process. Work in Process Inventory on May I was 75% complete as to conversion costs and Work in Process Inventory on May 31 was 60% complete for conversion costs. Complete the Production Cost Report for the Molding Department for the month of May using the above information and the information below. (Round unit costs answers to 2 decimal places, e.g- 52.75.) BLOSSOM COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Equivalent Units Quantities units to be accounted for Work in process, May 1 Started into production Total units units accounted for Completed and transferred out Work in process, May 31 Total units COSTS Unit costs Costs in May Equivalent units Unit costs Costs to be accounted for Work in process. May I Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Work in process, May 31 Materials Conversion costs Total costs Physical Units 6.400 25,600 32,000 28.000 4,000 32000 Materials zzzzzzzn Materials $112,000 Conversion Costs Conversion Costs $129,200 Total $241.200 $48,000 193.200 $241,200 $241,200 SUP'tc

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

27th edition

978-1337272094, 1337272094, 978-1337514071, 1337514071, 978-1337899451

More Books

Students also viewed these Accounting questions

Question

What are the objectives of job evaluation ?

Answered: 1 week ago

Question

Write a note on job design.

Answered: 1 week ago

Question

Compute the derivative of f(x)cos(-4/5x)

Answered: 1 week ago

Question

Discuss the process involved in selection.

Answered: 1 week ago