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Venus Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All
Venus Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed into production at the beginning of the blending process. After blending the milk chocolate is then transferred to the Molding Department, where the mik chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at March 31, 2016 ACCOUNT Work in Process-Blending Department ACCOUNT NO. Date Item Balance Debit Credit Debit Credit Mar. 1 Bl. 7,200 units, 3/5 completed 22,176 31 Direct materials, 288,000 units 777,600 799,776 959.876 999.920 31 Direct labor 31 Factory overhead 31 Goods transferred, 289,000 units 31 Bal., 2 units, 1/5 completed Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Blending Department. If an amount is zero, enter decimal places. when computing cost per equivalent units, round to the Venus Chocolate Company Cost of Production Report-Blending Department For the Month Ended Manch.11.2016 Units charged to production Inventory in process, March 1 Next >
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