Colorway manufactures crayons in a three-step process: mixing, molding, and packaging. At March 31, before recording...

 

 

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Colorway manufactures crayons in a three-step process: mixing, molding, and packaging. At March 31, before recording the transfer of costs from the Mixing Department to the Molding Department, the Colorway general ledger included the following O (Cick the icon to view the additional information,) account: E (Click the icon to view the account.) Read the requirements. Requirement 1. Prepare a production cost report for the Mixing Department for March. Round equivalent unit of production costs to four decimal places. Round all other costs to the nearest whole dollar. (Complete all answer boxes. Enter a "o" for any zero balances. Round cost per unit amounts to four decimal places. Abbreviations used: EUP = equivalent units of production; WIP = work-in-process.) Colorway Production Cost Report - Mixing Department Month Ended March 31 Equivalent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for: Total units to account for Units accounted for: Transferred to Molding Department Total units accounted for More Info The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process. Work in process of the Mixing Department on March 1, 2018, consisted of 200 batches of crayons that were 50% of the way through the production process. The beginning balance in Work-in-Process Inventory-Mixing was $27,200, which consisted of $11,100 in direct materials costs and $16,100 in conversion costs. During March, 4,600 batches were started in production. The Mixing Department transferred 4,400 batches to the Molding Department in March, and 400 were still in process on March 31. This ending inventory was 40% of the way through the mixing process. Colorway uses FIFO process costing. Print Done Requirements 1. Prepare a production cost report for the Mixing Department for March. Round equivalent unit of production costs to four decimal places. Round all other costs to the nearest whole dollar. 2. Journalize all transactions affecting the Mixing Department during March, including the entries that have already been posted. Assume labor costs are accrued and not yet paid. Print Done er i Data Table Work-in-Process Inventory-Mixing Balance, Mar. 1 27,200 Direct materials 55,200 Direct labor 22,840 Manufacturing overhead 57,440 Print Done Colorway manufactures crayons in a three-step process: mixing, molding, and packaging. At March 31, before recording the transfer of costs from the Mixing Department to the Molding Department, the Colorway general ledger included the following O (Cick the icon to view the additional information,) account: E (Click the icon to view the account.) Read the requirements. Requirement 1. Prepare a production cost report for the Mixing Department for March. Round equivalent unit of production costs to four decimal places. Round all other costs to the nearest whole dollar. (Complete all answer boxes. Enter a "o" for any zero balances. Round cost per unit amounts to four decimal places. Abbreviations used: EUP = equivalent units of production; WIP = work-in-process.) Colorway Production Cost Report - Mixing Department Month Ended March 31 Equivalent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for: Total units to account for Units accounted for: Transferred to Molding Department Total units accounted for More Info The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process. Work in process of the Mixing Department on March 1, 2018, consisted of 200 batches of crayons that were 50% of the way through the production process. The beginning balance in Work-in-Process Inventory-Mixing was $27,200, which consisted of $11,100 in direct materials costs and $16,100 in conversion costs. During March, 4,600 batches were started in production. The Mixing Department transferred 4,400 batches to the Molding Department in March, and 400 were still in process on March 31. This ending inventory was 40% of the way through the mixing process. Colorway uses FIFO process costing. Print Done Requirements 1. Prepare a production cost report for the Mixing Department for March. Round equivalent unit of production costs to four decimal places. Round all other costs to the nearest whole dollar. 2. Journalize all transactions affecting the Mixing Department during March, including the entries that have already been posted. Assume labor costs are accrued and not yet paid. Print Done er i Data Table Work-in-Process Inventory-Mixing Balance, Mar. 1 27,200 Direct materials 55,200 Direct labor 22,840 Manufacturing overhead 57,440 Print Done