The Blending Department for CenTex Paints started October with 1,000 gallons in

Question

The Blending Department for CenTex Paints started October with 1,000 gallons in process and started in production 9500 gallons. During the month, 7,000 gallons were completed and transferred to the next department Ending work in-process was 3.500 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: EE (aick 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) Equialent Units PhysicalDirect Conversion UnitsMaterials Costs Data Table UNITS Units to account for Beginning WIP-Direct material costs Beginning WIP-Conversion costs Direct materials added during the month Conversion costs added during the month Total 500 1.210 5,800 5,230 $ 12,740 Total units to account for Units accounted for Print Done Total units accounted for Choose from any list or enter any number in the input fields and then click Check Answer

Explanation / Answer

Production Cost Report - Blending Department (Partial) Month Ended Equivalent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for: Beginning WIP Inventory        1,000 Started in production        9,500 Total units to account for      10,500 Units accounted for: Completed and transferred out 7,000 7,000 7,000 Ending WIP Inventory-30% 3,500 3,500 1,050 Total units accounted for 10,500 10,500 8,050 DM Conversion So equivalent units        10,500            8,050 Costs Beginning WIP $              500 $             1,210 Cost added during the period $          5,800 $             5,230 Total cost to account for $          6,300 $             6,440 A Divide by Eq Units 10500 8050 B Cost per EU $            0.60 $                0.80 C = A/B Transferred cost Material 7000 $            0.60 $       4,200.00 Conversion 7000 $            0.80 $       5,600.00 $    9,800.00 Ending WIP Material 3500 $            0.60 $       2,100.00 Conversion 1050 $            0.80 $           840.00 $    2,940.00 $ 12,740.00

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