Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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 350,000 Gallons transferred out 294,000 Direct materials cost $1,050,000 Direct labor cost $1,626,240 Overhead applied $2,439,360 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 "O". Softkin Company Mixing Department Production Report for Current Year Unit Information Units to account for: Units in beginning WIP 0 Units started 350,000 Total units to account for 350,000 Units accounted for: Equivalent Units Physical Flow Direct Materials Conversion Costs Units completed 294,000 294,000 294,000 Units in ending WIP 56,000 56,000 44,800 Total units accounted for 350,000 Work completed 350,000 338,800 Cost Information Costs to account for: Direct Materials Total Conversion Costs Costs in beginning WIP 0 $ 0 $ 0 Costs incurred during the period Total costs to account for $ $ $ Cost per equivalent unit Costs accounted for: Units completed Ending work in process co Total costs accounted for
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