Work in process account data for two months; cost of production reports 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 niling process. The Inventory of Work In Process-Filing on April 1 and debits to the account during Apell were as follows: Bal., 800 units, 30% completed: Direct materials (800 $4,30) Conversion (800 * 30% * $1.75) $3,440 420 $3,860 From Cooking Department, 7,800 units $34,320 Direct labor 8,562 Factory overhead 6,387 During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed Charges to Work in Process-riling for May were as follows: $44,160 From Cooking Department, 9,600 units Direct labor Factory over de 12,042 6,878 During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department, all were completed except 300 units that were 35% completed Required: 1. Enter the balance as of April 1, In a four-column account for Work in Process-Filling. Record the debits and the credits in the account for April Construct a cost of production report, and present computations for determining () equivalent units of production for materials and conversion, (b) costs 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, leave it blank ACCOUNT Work In Process-Filling Department ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT Apr. 1 Bal., 800 units, 30% completed Apr. 30 Cooking Dept., 7,800 units at $4.40 Apr. 30 Direct labor Apr. 30 Factory overhead Apr. 30 Finished goods Apr. 30 Bal., 550 units, 90% completed ir an amount is zero, enter in a zero "0" Round cost per unit answers to the nearest cent eBook Print Item Hearty Soup Co. Cost of Production Report-Filling Department For the Month Ended April 30 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) 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 eBook Print Item Costs Costs Direct Materials Conversion Total Cost per equivalent unit: Total costs for April in Filling Department Total equivalent units Cost per equivalent unit (b) Costs assigned to production: Inventory in process, April 1 Costs incurred in April Total costs accounted for by the Filling Department Costs allocated to completed and partially completed units: 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) Transferred to finished goods in April (c) Inventory in process, April 30 (d) Total costs assigned by the Filing Department eBook Print Item 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. ACCOUNT Work In Process-Filing Department ACCOUNT NO. Balance DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT May 31 Balance May 31 Cooking Dept., 9,600 units at $4,60 May 31 Direct labor May 31 Factory overhead May 31 Finished goods Bal., 300 units, 35% completed May 31 If an amount is zero, enter in a zero "O". Round cost per unit answers to the nearest cent. Hearty Soup Ca. Cost of Production Report-Filling Department For the Month Ended May 31 Whole Units Equivalent Units Units Direct Materials (a) Conversion (a) 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 ebook Printem SRL Conte Conversion Direct Materials Total Costs Cost per equivalent unit Toots for May in Filling Denartment Total equivalent units Cost per equivalent unit() Costs asigned to production Inventory in proces, May 1 Costs incurred in May Total cost accounted for by the Filling Department Costs allocated to completed and partially completed his Inventory in process, May I blanc (C) To complete inventory in process, May 1 (0 Cost of completed May 1 work in process Started and completed in May () Transferred to finished goods in May (6) Inventory in process, May 31 (d) Total cost signed by the Filing Department 3. The cost per equivalent unit for direct materials from March to Mary. The cost per equivalent unt for conversion costs changes he investigated for their underlying causes, and any necessary corrective actions should be taken Check My Work MacBook Air SO . 3 QOR OOD % * # 3 $ 4 & 7 8 9 0 R
