accounting 2

Project Description:

problem 20-2b
cost of production report
swiss velvet 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 august 31, 2012:


instructions:
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1. prepare a cost of production report, and identify the missing amounts for work in process—blending department. if an amount is zero enter "0". if required, round your cost per equivalent unit answers to the nearest cent.


swiss velvet chocolate company
cost of production report-blending department
for the month ended august 31, 2012
unit information
units charged to production:
inventory in process, august 1

received from materials storeroom

total units accounted for by the blending department

units to be assigned cost:
equivalent units
whole units
direct materials
conversion
inventory in process, august 1



started and completed in august



transferred to molding department in august-



inventory in process, august 31



total units to be assigned cost



cost information
costs per equivalent unit:
direct materials
conversion
total costs for august in blending department
$
$
total equivalent units


cost per equivalent unit
$
$
costs charged to production:
direct materials
conversion
total
inventory in process, august 1
$
costs incurred in august

total costs accounted for by the blending department
$
cost allocated to completed and partially completed units:
inventory in process, august 1 balance
$
to complete inventory in process, august 1
$

cost of completed august 1 work in process
$
started and completed in august
$


transferred to molding department in august
$
inventory in process, august 31



total costs assigned by the blending department
$



2. assuming that the august 1 work in process inventory includes direct materials of $6,460, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between july and august. if required, round your answers to two decimal places
increase or decrease amount
change in direct materials cost per equivalent unit: $
change in conversion cost per equivalent unit: $
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