- X i More Info The Mixing Department combines the direct materials of paraffin pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. wax and In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process. Work in process of the Mixing Department on March 1, 2018, consisted of 200 batches of crayons that were 40% of the way through the production process. The beginning balance in Work-in-Process Inventory-Mixing was $27,600, which consisted of $10,500 in direct materials costs and $17,100 in conversion costs. During March, 5,200 batches were started in production. The Mixing Department transferred 3,400 batches to the Molding Department in March, and 2,000 were still in process on March 31. This ending inventory was 60% of the way through the mixing process. Technicolor uses FIFO process costing Print Done X Data Table Work-in-Process Inventory-Mixing Balance, Mar. 1 27,600 Direct materials 26,000 Direct labor 28,140 Manufacturing overhead 35,140 Print Done Cobalt Waxen manufactures crayons in a three-step process: mixing, molding, and packaging. At March 31, before recording the transfer of costs from the Mixing Department to the Molding Department, the Cobalt Waxen general ledger included the following account: (Click the icon to view the additional information.) |(Click the icon to view the account.) Read the requirements Requirement 1. Prepare a production cost report for the Mixing Department for March. Round equivalent unit of production costs to four decimal places. Round all other costs to the nearest whole dollar. (Complete all answer boxes. Enter a "O" for any zero balances. Round cost per unit amounts to four decimal places. Abbreviations used: EUP = equivalent units of production; WIP work-in-process.) Cobalt Waxen Production Cost Report- Mixing Department Month Ended March 31 Equivalent Units Conversion Physical Direct Costs UNITS Units Materials Units to account for: Total units to account for Cost per equivalent unit Costs accounted for: Total costs for beginning WIP Transferred to Mixing Department Total costs accounted for Requirement 2. Journalize all transactions affecting the Mixing Department during March, including the entries that have already been posted. Assume labor costs are accrued and not yet paid. Begin with a summary journal entry to record the assignment of direct materials and direct labor costs, and the allocation of manufacturing overhead to the Mixing Department. (Prepare a single compound journal entry. Record debits first, then credits Exclude explanations from journal entries.) Date Accounts Debit Credit Mar. 31 Prepare the journal entry to record the cost of the units (crayons) completed and transferred out of the Mixing Department Accounts Date Debit Credit Mar. 31