FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Chapter 6 - Question 49 : 

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 33,500
Units completed and transferred out 43,000
Units in process, April 30, 20% complete 12,000
Costs:  
WIP, April 1 $ 80,600
Costs added during April 350,700

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.

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