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Cost per equivalentunit Direct Materials Conversion Total costs for January Filling Department Total equivalent units Cost pet equivalent unit costs assigned to production: Direct Materials Conversion Total imenten in process. January 1 Sosts incurred in January Total costs accounted for by the Filling Department Casts-allocated to completed and partially completed units: Jewentory in process, January 1 balance To complete mentor in process, January 1 ICO buitini on cost of completed January work in process Started and completed in January Transierred to finished goods in January Inventor i process. January 31 Focal costs assigned by the Filling Department 2. Sourmalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. 120 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decreas Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 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 and The report can also be used to control costs by 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 Te complete inventory in process, January cost of completed January 1 Work in process 000 blinin in Started and completed in January Transferred to finished goods in January 0 0 Inventory in process, January 31 Total costs assigned by the Filling Department 2 urmalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred Home Filling to Finished Goods. If an amount box does not require an entry, leave it blank. Accounts Payable Factory Overhead-Filling Department laished Goods 3. Det materials cost per equivalent unit from December to January for red, round your answers to two decimal places. Cache Work in Process-Filling Department Increase or Decreas Work in Process Reaction Department Change t unit Change in conversion cost per equivalent unit 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 and The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit produce costs from one month to another such as those in part a car be studied carefully and any significant differences investigated. MA 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 100 iniciji Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Filling Department 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. 10 (2) Cost of Goods Sold 3. Det cost per equivalent unit from December to January for Factory Overhead-Filling Department direct red, round your answers to two decimal places. Finished Goods Increase or Decreas Change Materials tunit Chang Work in Process-Filling Department 4. DisdWork in Process-Reaction Department report and the results of part (3). The cost of production report may be used as the basis for allocating product costs between and The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (can be studied carefully and any significant differences investigated. 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 DOO QIQ pupil 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 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. (2) 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decreas Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 4. Discuss the uses of the cost of production report and the results of part (3). Decrease The cost of production report may be used as the basis for allocating product costqincrease and The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any significant differences investigated. Total costs for January in Filling Department Total equivalent units EE 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 DOO JOD QILDI Cost of completed January 1 work in process Started and completed in January Transferred to finished goods in January IO Inventory in process, January 31 Total costs assigned by the Filling Department 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. (1) (2) 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decrea Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 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 and The report can also be used to control costs by ent head responsible for the units entering production and the costs incurred in differences in unit product costs from one month to another, such as those in Direct Materials id carefully and any significant differences investigated. Work in Process 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 buitin Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Filling Department 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. (1) (2) 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decreas Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit 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 and The report can also be used to control costs by holding each department h e units entering production and the costs incurred in the department. Any differ osts from one month to another, such as those in Cost of Goods Sold part (3), can be studied ca ant differences investigated. Finished Goods Equivalent Units and Related Costs; Cost of Production Report; Entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process- Filling was as follows on January 1: Work in Process-Filling Department (5,600 units, 70% completed): Direct materials (5,600 x $15.60) $87,360 Conversion (5,600 x 70% x $10.20) 39,984 $127,344 The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 72,200 units at $15.40 a $1,111,880 unit Direct labor 375,710 Factory overhead 360,970 During January, 71,600 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 6,200 units, 40% completed. Required: 1. Prepare a cost of production report for the Filling Department for January. If an amount is Conversion (5,600 x 70% x $10.20) 39,984 $127,344 The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 72,200 units at $15.40 a $1,111,88C unit Direct labor 375,710 Factory overhead 360,970 During January, 71,600 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 6,200 units, 40% completed. Required: 1. 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 two decimal places. 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. If an amount box does not require an entry, leave it blank. 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. 4. Discuss the uses of the cost of production report and the results of part (3). Fill-ins include the following for this assignment