Production Report, Weighted AverageMino 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% completeUnits completed and transferred outUnits in process, April 30, 20% completeCosts:WIP, April 1Costs added during AprilRequired:26,00040,0007,500$ 80,600280,450Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded valuein intermediate calculations.

With that in mind, let's use the weighted average technique to break down the processes and…

Answered: Production Report, Weighted Average…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 2P: Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations...

See similar textbooks

Similar questions

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: With respect to conversion costs. Required: 1. Prepare a physical flow schedule for July. 2. Prepare an equivalent units schedule for July using the FIFO method. 3. What if 60 percent of the materials were added at the beginning of the process and 40 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be?
Use the following information for Brief Exercises 6-29 and 6-30: Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: 6-29 (Appendix 6A) First-In, First-Out Method; Equivalent Units Refer to the information for Aztec Inc. on the previous page. Required: 1. Calculate the equivalent units for July. 2. Calculate the unit cost. (Note: Round to two decimal places.) 3. Assign costs to units transferred out and EWIP using the FIFO method.
Tomar Company produces vitamin energy drinks. The Mixing Department, the first process department, mixes the ingredients required for the drinks. The following data are for April: Direct materials are added throughout the process. Ending inventory is 60 percent complete with respect to direct labor and overhead. Required: 1. Why would a manager want a production report? 2. Prepare a production report for the Mixing Department for April.
Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
Production Report, Weighted Average Cochabamba Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Cochabamba 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 Units completed and transferred out. Units in process, April 30, 20% complete Costs: WIP, April 1 Costs added during April Required: Download Excel spreadsheet 21,500 47,500 Cochabamba Unit Information 12,000 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. $ 80,600 298,640 Cooking Department Production Report For the Month of April (Weighted Average Method)
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 24,500 Units completed and transferred out 41,500 Units in process, April 30, 20% complete 12,000 Costs: WIP, April 1 $ 80,600 Costs added during April 270,600 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…
Production Report, Weighted AverageMino Inc. manufactures chocolate syrup in three departments: cooking,mixing, and bottling. Mino uses the weighted average method. Thefollowing are cost and production data for the cooking department forApril (Note: Assume that units are measured in gallons.): Production: Units in process, April 1 (60% complete)Units completed and transferred outUnits in process, April 30 (20% complete) 20,00050,00010,000 Costs: WIP, April 1Costs added during April $ 93,600314,600 Required:Prepare a production report for the cooking department.
Production Report, Weighted Average Cochabamba Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Cochabamba 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.): Line Item Description Numerical Data Production: Units in process, April 1, 60% complete 50,000 Units completed and transferred out 125,000 Units in process, April 30, 20% complete 25,000 Costs: WIP, April 1 $234,000 Costs added during April 786,500 Required: Download Excel spreadsheet 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. CochabambaCooking Department Production ReportFor the Month of April (Weighted Average Method) Unit Information Physical flow: Units to account for: Units Units Units Units in…
Fluffy manufactures chocolate syrup in three departments: Cooking, Mixing,and Bottling. Fluffy uses the weighted average method. The following are cost andproduction data for the cooking department for August (Note: Assume that units aremeasured in gallons):Production:Units in process, August 1, 60% complete 20,000Units completed and transferred out 50,000Units in process, August 30, 20% complete 10,000Costs:WIP, August 1 RM 93,600Costs added during August RM 314,600Required:Prepare a production report for the cooking department.
Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 10,100 Units completed and transferred out 80,000 Units in process, July 31, 80% complete* 15,100 * With respect to conversion costs. Required: Question Content Area 1. Prepare a physical flow schedule for July. Jackson ProductsPhysical Flow ScheduleFor the Month of July Units to account for: Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for 2. Prepare an equivalent units schedule for July using the FIFO method. Enter percentages as whole numbers. If an amount box…
Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 70% complete* 10,100 Units completed and transferred out 90,000 Units in process, July 31, 80% complete* 15,000 * With respect to conversion costs. Required: Question Content Area 1. Prepare a physical flow schedule for July. Jackson ProductsPhysical Flow ScheduleFor the Month of July Units to account for: Units, beginning work is process (70% complete) Units started during July Total units to account for fill in the blank 2bb1ebfa004eff9_5 Units accounted for: Units completed and transferred out: Started and completed From beginning work in process From beginning work in…
Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* Units completed and transferred out Units in process, July 31, 80% complete* * With respect to conversion costs. 11,000 88,000 15,100

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS