Title: Production Cost Report and Journal Entries for Mixing Department in March
Requirements
Transferred in: journal entries
Learning Objectives: 2, 3, 5
1. Cost per Equivalent Unit (EUP) for CC S1.40
The Mixing Department compiled the following data for March:
Direct Materials: $475
Direct Labor: $275
Manufacturing Overhead Allocated Costs: $300
Total Costs: $1,050
Beginning inventory, Mar. 1:
Direct Materials: $5,045
Direct Labor: $2,900
Manufacturing Overhead: $2,965
Total Costs: $10,910
Costs added during March:
Direct Materials: $3,175
Direct Labor: $3,265
Manufacturing Overhead: $11,960
Total Costs: $5,520
Requirements:
1. Prepare a production cost report for the Mixing Department for March. The company uses the weighted-average method.
2. Journalize all transactions affecting the company's mixing process during March. Assume labor costs are accrued and not yet paid.