Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are
-
Production Report, Weighted Average
Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Mino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.):
Production: Units in process, April 1, 60% complete 33,500 Units completed and transferred out 43,000 Units in process, April 30, 20% complete 12,000 Costs: WIP, April 1 $ 95,600 Costs added during April 208,580 Required:
Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value in intermediate calculations.
Mino Inc. Cooking Department Production Report For the Month of April (Weighted Average Method) Unit Information Physical flow: Units to account for: Units Units in beginning work in process fill in the blank 1 Units started fill in the blank 2 Total units to account for fill in the blank 3 Units accounted for: Units Units completed fill in the blank 4 Units in ending work in process fill in the blank 5 Total units accounted for fill in the blank 6 Equivalent units: Units Units completed fill in the blank 7 Units in ending work in process fill in the blank 8 Total equivalent units fill in the blank 9 Cost Information Costs to account for: Dollars Costs in beginning work in process $fill in the blank 10 Costs added by department fill in the blank 11 Total costs to account for $fill in the blank 12 Cost per equivalent unit $fill in the blank 13 Costs accounted for: Transferred Out Ending Work in Process Total Goods transferred out $fill in the blank 14 $fill in the blank 15 Goods in ending work in process $fill in the blank 16 fill in the blank 17 Total costs accounted for $fill in the blank 18 $fill in the blank 19 $fill in the blank 20
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