Question
Production Report, No Beginning Inventory Softkin Company manufactures sun protection lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant.
Production Report, No Beginning Inventory
Softkin Company manufactures sun protection lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year:
Work in process, January 1 | |
Gallons started | 500,000 |
Gallons transferred out | 420,000 |
Direct materials cost | $1,500,000 |
Direct labor cost | $2,323,200 |
Overhead applied | $3,484,800 |
Direct materials are added at the beginning of the process. Ending inventory is 80 percent complete with respect to direct labor and overhead.
Required:
Prepare a production report for the Mixing Department for the current year. If an amount is zero, enter "0".
Softkin Company | |||
Mixing Department | |||
Production Report for Current Year | |||
Unit Information | |||
Units to account for: | |||
Ending work in processUnits completedUnits in beginning WIPUnits in ending WIPUnits to account forUnits in ending WIP | Units in ending WIP | ||
Ending work in processUnits completedUnits in ending WIPUnits startedUnits to account forUnits started | Units started | ||
Total units to account for | fill in the blank 5 | ||
Units accounted for: | |||
Equivalent Units | |||
Physical Flow | Direct Materials | Conversion Costs | |
Ending work in processUnits completedUnits in beginning WIPUnits startedUnits to account forUnits completed | Units completed | Units completed | Units completed |
Units completedUnits in beginning WIPUnits in ending WIPUnits startedUnits to account forUnits in ending WIP | Units in ending WIP | Units in ending WIP | Units in ending WIP |
Total units accounted for | fill in the blank 14 | ||
Work completed | fill in the blank 15 | fill in the blank 16 | |
Cost Information | |||
Costs to account for: | |||
Direct Materials | Conversion Costs | Total | |
Costs in beginning WIPCosts in ending work in processCost per equivalent unitCosts to account forCosts in beginning WIP | $Costs in beginning WIP | $Costs in beginning WIP | $Costs in beginning WIP |
Costs incurred during the periodCosts in ending work in processCost per equivalent unitCosts to account forCosts incurred during the period | Costs incurred during the period | Costs incurred during the period | Costs incurred during the period |
Total costs to account for | $fill in the blank 25 | $fill in the blank 26 | $fill in the blank 27 |
Cost per equivalent unit | $fill in the blank 28 | $fill in the blank 29 | $fill in the blank 30 |
Costs accounted for: | |||
Costs added by departmentCosts in beginning WIPUnits completedUnits in beginning WIPUnits startedUnits completed | $Units completed | ||
Beginning work in processCosts added by departmentCosts in beginning WIPCost per equivalent unitEnding work in processEnding work in process | Ending work in process | ||
Total costs accounted for | $fill in the blank 35 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started