Equivalent Units and Related Costs; Cost of Production Report; Entries

The balance in the account Work in Process$-$Filling was as follows on January $1$:

Work in Process$-$Filling Department

$(2,200$ units, $80\%$ completed$)$:

Direct materials $(2,200$$$16\mathrm{.}30)$

Conversion $(2,20080\%$$$10\mathrm{.}60)$

The following costs were charged to Work in Process$-$Filling during January:

Direct materials transferred from Reaction

Department: $28,400$ units at $$16\mathrm{.}10$ a unit

$$457,240$

Direct labor

$152,320$

Factory overhead

$146,340$

During January, $28,200$ units of specialty chemicals were completed. Work in Process$-$Filling Department on January $31$ was $2,400$ units, $40\%$ completed.

Required:

Prepare a cost of production report for the Filling Department for January. If an amount is zero, enter $"0".$ If required, round your cost per equivalent unit answers to the nearest cent.

Dover Chemical Company

Cost of Production Report$-$Filling Department

For the Month Ended January $31$

Units charged to production:

Inventory in process, January $1$

Received from Reaction Department

Total units accounted for by the Filling Department

Costs charged to production:

Inventory in process, January $1$

Started and completed in January

Transferred to finished goods in January

Inventory in process, January $31$

Total units to be assigned costs

Change in direct materials cost per equivalent unit

Change in conversion cost per equivalent unit

Discuss the uses of the cost of production report and the results of part $(3).$

The cost of production report may be used as the basis for allocating product costs between

month to another, such as those in part $(3),$ can be studied carefully and any significant differences investigated.ask an expert