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.
Please check my answers in the attached 2 images
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