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Excel 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-Filing Department (3,400 units, 60% completed): Direct materials (3,400 x $958) Conversion (3,400 X 60% * $3.90) $32,572 7,956 $40,528 The following costs were charged to Work in Process --Filling during January: Direct materials transferred from Reaction Department: 52.300 units at $9.50 a unit Direct labor Factory overhead 5496,850 101.560 95.166 During January, 53,000 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 2,700 units, 30% completed. Instructions 1. Prepare a cost of production report for the Filling Department for January 2. Journalize the entries for costs transferred from Reaction to Filling and the costs transferred from The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 52,300 units at $9.50 a unit Direct labor Factory overhead $496,850 101,560 95.166 During January, 53,000 units of specialty chemicals were completed. Work in Process--Filling Department on January 31 was 2,700 units, 30% completed. Instructions 1. Prepare a cost of production report for the Filling Department for January. 2. Journalize the entries for costs transferred from Reaction to Filling and the costs transferred from Filling to Finished Goods. Answer Check Figure: Transferred to finished goods, $705,376 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. Discuss the uses of the cost of production report and the results of part (3). DOVER CHEMICAL COMPANY Cost of Production Report - Filling Department For the Month Ended January 31 UNITS Equivalent Units Direct Materials Conversion Whole Units Units charged to production: Inventory in process, January 1 Received from Reaction Department Total units accounted for by the Filing Department 3,400 52,300 55.700 complete) Units to be assigned cost Inventory in process, January 1 ( 60% Started and completed in January Transferred to finished goods in January Inventory in process, January 31 ( 30% Total units to be assigned cost 3.400 49,600 53.000 2.700 55 700 49,600 49,600 2.700 52 300 1,360 49,600 50.960 810 51.770 complete) COSTS Direct Materials Costs Conversion Total Costs per equivalent unit Total costs for January in Filling Department Total equivalent units Cost per equivalent unit $496,850 52,300 $9.50 $196,726 51,770 $3.80 Costs assigned to production Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Filling Department $40.528 693 576 $734 104 20 H K M N o P $ 55,168 & - B D E F G Costs allocated to completed and partially completed units: Inventory in process, January 1 To complete inventory in process, January 1 Cost of completed January 1 work in process Started and completed in January Transferred to Molding Department in January Inventory in process, January 31 Total costs assigned by the Filling Department 471,200 188,480 $40 528 5,168 $45,696 659,680 $705,376 28.728 $734 104 25,650 3,078 496,850 Work in Process - Filling Department Work in Process - Reaction Department 496,850 705,376 Finished Goods Work in Process - Filling Department 705,376 Direct Materials Conversion Cost per equivalent unit. From current period From beginning inventory Increase (decrease) Key essay answer here! Pr. 20-30 Page Style Pr20-38 STD