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 filling process. The inventory of Work in Process$$Filling on April $1$ and debits to the account during April were as follows:

Bal., $600$ units, $60\%$ completed:

Direct materials $(600$ x $$5\mathrm{.}00)$ $ $3,000$

Conversion $(600$ x $60\%$ x $$2\mathrm{.}10)756$

$ $3,756$

From Cooking Department, $13,080$ units $$66,708$

Direct labor $17,332$

Factory overhead $9,332$

During April, $600$ units in process on April $1$ were completed, and of the $13,080$ units entering the department, all were completed except $1,500$ units that were $20\%$ completed.

Charges to Work in Process$$Filling for May were as follows:

From Cooking Department, $15,000$ units $$79,500$

Direct labor $23,980$

Factory overhead $12,912$

During May, the units in process at the beginning of the month were completed, and of the $15,000$ units entering the department, all were completed except $800$ units that were $80\%$ completed.

Required:

$1.$ Enter the balance as of April $1$ in a four$-$column account for Work in Process$$Filling$.$ Record the debits and credits in the account for April. Construct a cost of production report and present computations for determining $($a$)$ equivalent units of production for materials and conversion; $($b$)$ cost 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.

$2.$ 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. $\backslash$table$[[$ACCOUNT$,$Work in Process$-$Filling Department,CCOUNT,NO$.,],[$DATE$,,$POST. REF.,DEBIT,CREDIT,,,$],[$ITEM$,$DEBIT,,CREDIT$],[$Apr$.1,$Bal., $600$ units, $60\%$ completed,,,,,$3,756,,],[30,$Direct labor,,$17,332,,,87,796,,],[30,$Factory overhead,,$9,332,,,97,128,,],[30,$Finished goods,,,,,,,$],[30,$Bal., $1,500$ units, $20\%$ completed,,,,,,,$]]\backslash$table$[[,$Costs$],[$Costs$,$Direct Materials,Conversion,Total$],[$Costs per equivalent unit:$],[$Total costs for April in Filling Department,$ $69,708$ x$,$$$27,420$x$,],[$Total equivalent units,$13,680\backslash$times $,12,480\backslash$times $,],[$Cost per equivalent unit $($b$),$$ $5\mathrm{.}09$ x$,$$ $2\mathrm{.}20,],[$Costs charged to production:$],[$Inventory in process, April $1,,,$$ $3,756],[$Costs incurred in April,,,$93,372],[$Total costs accounted for by the Filling Department,,,$$97,128],[$Cost allocated to completed and partially completed units:$],[$Inventory in process, April $1$ balance $($c$),,,$$$],[$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 Filling Department,,,$$]]\backslash$table$[[$ACCOUNT$,$Work in Process$-$Filling Department,ACCOUNT NO$.],[,,,,$Balance$],[$DATE$,$ITEM,POST. REF.,DEBIT,CREDIT,DEBIT,CREDIT$],[$May $1,$Balance,,,,,$],[31,$Cooking Dept., $15,000$ units at $$5\mathrm{.}3,,,,,],[31,$Direct labor,,,,,$],[31,$Factory overhead,,,,,$],[31,$Finished goods,,,,,$],[31,$Bal., $800$ units, $80\%$ compled,,,,,$]]$

If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent.

$\backslash$table$[[\backslash$table$[[$Hearty Soup Co$.],[$Cost of Production Report$-$Filling Department$],[$For the Month Ended May $31]]],[,$Whole Units,Equivalent Units$],[$Units$,,\backslash$table$[[$Direct$],[$Materials $($a$)]],\backslash$table$[[$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,,,$]]\backslash$table$[[$Costs$,$Costs$],[$Direct Materials,Conversion,Total$],[$Costs per equivalent unit:$],[$Total costs for May in Filling Department,$$,$$$,],[$Total equivalent units,,,$],[$Cost per equivalent unit $($b$),$$$,$$$,],[$Costs charged to production:$],[$Inventory in process, May $1,,,$$$],[$Costs incurred in May$],[$Total costs accounted for by the Filling Department,,,$$],[$Cost allocated to completed and partially completed units:$],[$Inventory in process, May $1$ balance $($c$),$$$],[$To complete inventory in process, May $1($c$),$$$,$$$,],[$Cost of completed May $1$ work in process,$$],[$Started and completed in May $($c$),,,],[$Transferred to finished goods in May $($c$),$$$],[$Inventory in process, May $31($d$),,,],[$Total costs assigned by the Filling Department,$ $4]]$