The Blending Department for KanMont Paints started October with 800 gallons in process and started in production 9,300 gallons. During the month, 6,800 gallons were completed and transferred to the next department. Ending work-in-process was 3,300 gallons (100% complete with respect to direct materials and 40% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs: (Click the icon to view the costs.) 7. Prepare a production cost report for the Blending Department for the month of October. (Enter cost per equivalent units to the nearest cent. Abbreviations: EUP = Equivalent Units of Production.) UNITS Units to account for: Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Month Enaea Uctober 31 Physical Units 800 9,300 10,100 6,800 3,300 10,100 $ $ Direct Materials Direct Materials $ Equialent Units 6,800 3,300 10,100 …... 5,540 Conversion Costs 722 $ 10,100 Conversion Costs 6,262 $ 6,800 1,320 8,120 0.62 $ 1,478 $ 3,800 5,278 8,120 0.65 Total Costs Data table Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 2,200 9,340 11,540 11540 Print Done $ $ 722 1,478 5,540 3,800 11,540
The Blending Department for KanMont Paints started October with 800 gallons in process and started in production 9,300 gallons. During the month, 6,800 gallons were completed and transferred to the next department. Ending work-in-process was 3,300 gallons (100% complete with respect to direct materials and 40% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs: (Click the icon to view the costs.) 7. Prepare a production cost report for the Blending Department for the month of October. (Enter cost per equivalent units to the nearest cent. Abbreviations: EUP = Equivalent Units of Production.) UNITS Units to account for: Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for COSTS Costs to account for: Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: Completed and transferred out Ending work-in-process Total costs accounted for Month Enaea Uctober 31 Physical Units 800 9,300 10,100 6,800 3,300 10,100 $ $ Direct Materials Direct Materials $ Equialent Units 6,800 3,300 10,100 …... 5,540 Conversion Costs 722 $ 10,100 Conversion Costs 6,262 $ 6,800 1,320 8,120 0.62 $ 1,478 $ 3,800 5,278 8,120 0.65 Total Costs Data table Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 2,200 9,340 11,540 11540 Print Done $ $ 722 1,478 5,540 3,800 11,540
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 22E: Fordman Company has a product that passes through two processes: Grinding and Polishing. During...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
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
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
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 Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College