41 of 55 (0 complete) ? This Test: 150 pts possible his Question: 15 pts -1 The

Question

41 of 55 (0 complete) ? This Test: 150 pts possible his Question: 15 pts -1 The Blending Department for Denkota Paints started October with 1,200 gallons in process and started in production 9,700 gallions. During the month, 7,200 gallons were completed and transferred to the next department. Ending work-in-process was 3,700 gallons (100% complete with respect to direct materials and 30% complete for conversion costs). The department uses the weighted-average method. The Blending Department incurred the following costs EEB (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.) Denkota Paints Production Cost Report - Blending Department Month Ended October 31 Equialent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for

Explanation / Answer

Blending Departmemt

Computation of Equivalent units Equivalent Units

7200

(7200*100%)

7200

(7200 * 100%)

3700

3700

(3700 * 100%)

1110

(3700 * 30 %)

$3960

(7200 units * 0.55)

$5040

(7200 unit * 0.70)

$2035

(3700 units * 0.55)

$777

(1110 units * 0.70)

Flow of Production Physical Units Direct Material Conversion Cost Units to account for: Begining Work in process 1200 Started in production 9700 Total Physical units to account for 10900 Units Accounted for: Completed and transferred out 7200

7200

(7200*100%)

7200

(7200 * 100%)

Ending Work in process

3700

3700

(3700 * 100%)

1110

(3700 * 30 %)

Total physical unit accounted for 10900 Total Equivalent units 10900 8310

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