Heflin Manufacturing, Inc., operates a plant that produces artificial maple syrup. The syrup is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Heflin uses the FIFO method for process costing.
The following data relate to the Work in Process-Blending Department account for July 20X5:
Department 1 handled the following units during July:
Units in process, July 1 5,000
Units started in Department 1 62,000
Units transferred to Department 2 64,000
Units in process, July 31 3,000
On average, the July 1 units were 40% complete. The July 31 units were 70% complete. Materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Heflin uses the FIFO method for process costing.
Prepare the product cost report for Department 1 for July.

Question

Heflin Manufacturing, Inc., operates a plant that produces artificial maple syrup. The syrup is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Heflin uses the FIFO method for process costing. 
The following data relate to the Work in Process-Blending Department account for July 20X5:
  Department 1 handled the following units during July:
Units in process, July 1 5,000
Units started in Department 1 62,000
Units transferred to Department 2 64,000
Units in process, July 31 3,000
On average, the July 1 units were 40% complete. The July 31 units were 70% complete. Materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Heflin uses the FIFO method for process costing.
Prepare the product cost report for Department 1 for July.

Quizplus · Accepted Answer

The Answer of Heflin Manufacturing, Inc., operates a plant that produces artificial maple syrup. The syrup is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Heflin uses the FIFO method for process costing. 
The following data relate to the Work in Process-Blending Department account for July 20X5:
  Department 1 handled the following units during July:
Units in process, July 1 5,000
Units started in Department 1 62,000
Units transferred to Department 2 64,000
Units in process, July 31 3,000
On average, the July 1 units were 40% complete. The July 31 units were 70% complete. Materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Heflin uses the FIFO method for process costing.
Prepare the product cost report for Department 1 for July.