Question

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	32,000
Units completed and transferred out	40,000
Units in process, April 30, 20% complete	6,000
Costs:
WIP, April 1	$ 95,600
Costs added during April	118,640

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
Units started
Total units to account for
Units accounted for:			Units
Units completed
Units in ending work in process
Total units accounted for
Equivalent units:
			Units
Units completed
Units in ending work in process
Total equivalent units
Cost Information
Costs to account for:
			Dollars
Costs in beginning work in process			$
Costs added by department
Total costs to account for			$
Cost per equivalent unit			$
Costs accounted for:
	Transferred Out	Ending Work in Process	Total
Goods transferred out	$		$
Goods in ending work in process		$
Total costs accounted for	$	$	$

Answer 1

	unit Information
Physical flow:
Units to account for					units
units in Beginning work in process					32,000
Units started					6,000
total units to account for					46,000
units accounted for:					Units
units completed					40,000
units in ending work in process					6,000
total units accounted for					46,000
Equivalent units
					units
units completed					40,000
units in ending work In nprocess					1,200
total Equivalent units					41,200
Cost Information
Costs to account for:
					Dollars
Costs in beginning work in process					95,600
costs added by department					118,640
total costs to account for					214,240
cost per Equivalent unit					5.2
costs accounted for
			Transferred	ending	total
			out	WIP
Goods transferred out			208000		208000
goods in ending WIP				6240	6240
Total costs accounted for			208000	6240	214240