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Cost of Production Report: Weighted Average Cost Method Use the weighted average cost method with the following data: Work in process, January 1, 4,200 units,
Cost of Production Report: Weighted Average Cost Method
Use the weighted average cost method with the following data:
Work in process, January 1, 4,200 units, 10% completed | $32,928 |
Materials added during January from Weaving Department, 79,400 units | 605,028 |
Direct labor for January | 155,804 |
Factory overhead for January | 122,736 |
Goods finished during January (includes goods in process, January 1), 77,700 units | |
Work in process, January 31, 5,900 units, 70% completed |
Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January. If required, round your cost per equivalent unit answer to two decimal places.
Dalton Carpet Company | ||
Cost of Production Report-Cutting Department | ||
For the Month Ended January 31 | ||
Unit Information | ||
Units charged to production: | ||
Inventory in process, January 1 | fill in the blank 1 | |
Received from Weaving Department | fill in the blank 2 | |
Total units accounted for by the Cutting Department | fill in the blank 3 | |
Units to be assigned costs: | ||
Whole Units | Equivalent Units of Production | |
Transferred to finished goods in January | fill in the blank 4 | fill in the blank 5 |
Inventory in process, January 31 | fill in the blank 6 | fill in the blank 7 |
Total units to be assigned costs | fill in the blank 8 | fill in the blank 9 |
Cost Information | ||
Costs per equivalent unit: | ||
Costs | ||
Total costs for January in Cutting Department | $fill in the blank 10 | |
Total equivalent units | fill in the blank 11 | |
Cost per equivalent unit | $fill in the blank 12 | |
Costs assigned to production: | ||
Inventory in process, January 1 | $fill in the blank 13 | |
Costs incurred in January | fill in the blank 14 | |
Total costs accounted for by the Cutting Department | $fill in the blank 15 | |
Costs allocated to completed and partially completed units: | ||
Transferred to finished goods in January | $fill in the blank 16 | |
Inventory in process, January 31 | fill in the blank 17 | |
Total costs assigned by the Cutting Department | $fill in the blank 18 |
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