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Need help with questions 1-4 Equivalent Units and Related Costs; Cost of Production Report; Entries Reaction and Filling departments, emerging as finished chemicals. The balance
Need help with questions 1-4
Equivalent Units and Related Costs; Cost of Production Report; Entries Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process-Filling was as follows on January 1: The following costs were charged to Work in Process-Filling during January: Required: Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 Received from Reaction Department Total units accounted for by the Filling Department Units to be assigned costs: Equivalent Units 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 Cost Information Cost per equivalent unit: Whole Units Direct Materials Conversion Total costs for January in Filling Department Total equivalent units Cost per equivalent unit Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Filling Department Costs allocated to completed and partially completed units: Inventory in process, January 1 balance To complete inventory in process, January 1 Cost of completed January 1 work in process Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Filling Department (1) (2) \begin{tabular}{llll} & Increase or Decrease & Amount \\ \hline Change in direct materials cost per equivalent unit & $ & $ \\ Change in conversion cost per equivalent unit & $ & & \end{tabular} 4. 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 . The report can also be used to control costs by holding each department head responsible for the units entering production and the Accounts Payable Factory Overhead-Filling Department Finished Goods Materials Work in Process-Filling Department Work in Process-Reaction Department Decrease Increase Direct Materials Work in Process Cost of Goods Sold Finished Goods
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