Problem 20-2 (Algorithmic) Cost of Production Report Venus Chocolate Company pro

Question

Problem 20-2 (Algorithmic)
Cost of Production Report

Venus Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, milk, and sugar) into the Blending Department. All materials are placed into production at the beginning of the blending process. After blending, the milk chocolate is then transferred to the Molding Department, where the milk chocolate is formed into candy bars. The following is a partial work in process account of the Blending Department at March 31, 2012:

2. Assuming that the March 1 work in process inventory includes $13,860 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers to the nearest cent.

ACCOUNT Work in Process%u2014Blending Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 6,600 units, 1/5 completed 14,916 31 Direct materials, 264,000 units 580,800 595,716 31 Direct labor 127,600 723,316 31 Factory overhead 31,952 755,268 31 Goods transferred, 265,000 units ? 31 Bal., ? units, 2/5 completed ?















1. Prepare a cost of production report, and identify the missing amounts for Work in Process%u2014Blending Department. If an amount is zero, enter in a zero (0). When computing cost per equivalent units, round to two decimal places.

2. Assuming that the March 1 work in process inventory includes $13,860 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers to the nearest cent.

Increase or Decrease Amount Change in direct materials cost per equivalent unit: Increase $ 0 Change in conversion cost per equivalent unit: Decrease $ blank

Explanation / Answer

https://docs.google.com/document/d/16LmdJtfP4lSjFiuoZbKmehjFs3O1dvFieYXD6haRCCQ/pub

check this link

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.