2. Johnson Dairy produces an organic butter that is sold by the pound. The production of the butter begins in the Churning Department Data for the Churning Department for January follows: Click the icon to view the data from January.) Read the requirements Requirement 1. Prepare a production cost report for January for the Churning Department. Prepare a production cost report for the Churning Department, one section at a time. (For entries with a $0 balance, make sure to enter cost per equivalent unit amounts to the nearest cent, SX.XX.) in the appropriate cell(s). Round Johnson Dairy Churning Department Month Ended January 31 Production Cost Report Flow of Physical Flow of Production Units Units to account for: Equivalent Units Direct Conversion Materials Costs I (2) Total physical units to account for Units accounted for: (3) Total physical units to account for Units accounted for: L (3) Total physical units accounted for Total equivalent units Total Costs to Account for and Cost per Equivalent Unit Direct Materials Conversion Costs Total costs to account for Cost per equivalent unit Direct Materials Assignment of total costs: Conversion Costs Total Completed and transferred out: (8) Costs assigned to units completed and transferred out Direct Materials Conversion Costs Total Assignment of total costs: Completed and transferred out: (8) (9) Costs assigned to units completed and transferred out Ending work in process: (10) (11) Costs assigned to units in ending work in process, January 31 Total costs accounted for Requirement 2. How much did it cost to make one pound of butter in the Churning Department? (Round all amounts to the nearest cent. $X.XX.) Direct material cost Conversion cost Total cost Requirement 3. How much did it cost to make a partially completed pound of butter in the Churning Department? Does this make sense? Why or why not? How much did it cost to make a partially completed pound of butter in the Churning Department? (Round all amounts to the nearest cent. SX.XX.) Direct material cost Conversist Costs assigned to units in ending work in process, January 31 Total costs accounted for Requirement 2. How much did it cost to make one pound of butter in the Churning Department? (Round all amounts to the nearest cent. SX.XX.) Direct material cost Conversion cost Total cost Requirement 3. How much did it cost to make a partially completed pound of butter in the Churning Department? Does this make sense? Why or why not? How much did it cost to make a partially completed pound of butter in the Churning Department? (Round all amounts to the nearest cent, $X.XX.) Direct material cost Conversion cost Total cost Does this make sense? Why or why not? (12) because % of the (13) have not yet been added. 1: Data Table 110,000 units Units in beginning Work in Process (WIP) inventory Units started during the month (all direct materials, including cream and salt, are added at the beginning of the churning process) Units in ending Work in Process (WIP) inventory (50% of the way 1,800,000 units 110,000 units Units in beginning Work in Process (WIP) inventory Units started during the month (all direct materials, including cream 1,800,000 units 210,000 units and salt, are added at the beginning of the churning process) Units in ending Work in Process (WIP) inventory (50% of the way through the process) Cost information is as follows: WIP - Churning Department balance as of January 1: Direct material cost included in beginning WIP balance 401,900 67,800 Conversion cost included in beginning WIP balance $ 469,700 Beginning balance, WIP, January 1 Manufacturing costs incurred during January: Direct materials used Direct labor $ 1,680,000 12,000 570,000 Manufacturing overhead Total manufacturing costs entered into production during January $ 2,262,000 2: Requirements 1. Prepare a production cost report for January for the Churing Department. 2. How much did it cost to make one pound of butter in the Churing Department? 3. How much did it cost to make a partially completed pound of butter in the Churning Department? Does this make sense? Why or why not? (1) Started in production during January Beginning work in process, January 1 Completed and transferred out O Ending work in process, January 31 (2) O O Plus: Beginning work in process, January 1 O Plus: Ending work in process, January 31 O Plus: Started in production during January O Started in production during January (3) O O Beginning work in process, January 1 O Completed and transferred out O Ending work in process, January 31 (4) O O Plus: Beginning work in process, January 1 O Plus: Ending work in process, January 31 O Plus: Started in production during January (5) O O Beginning work in process O Costs added during January O Equivalent units