Equivalent Units and Related Costs; Cost of Production Report; EntriesDover 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(3,000 units, 70% completed):Direct materials (3,000 x $10.20)Conversion (3,000 x 70% x $6.50)$30,60013,650$44,250The following costs were charged to Work in Process-Filling during January:Direct materials transferred from ReactionDepartment: 38,700 units at $9.90 a unitDirect laborFactory overheadDuring January, 38,400 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 3,300 units, 50% 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.$383,130129,680124,585 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.Dover Chemical CompanyCost of Production Report-Filling DepartmentFor the Month Ended January 31Unit InformationUnits charged to production:Inventory in process, January 1Received from Reaction DepartmentTotal units accounted for by the Filling DepartmentUnits to be assigned costs:Inventory in process, January 1Started and completed in JanuaryTransferred to finished goods in JanuaryInventory in process, January 31Total units to be assigned costsCost per equivalent unit:Total costs for January in Filling DepartmentTotal equivalent unitsCost per equivalent unitCosts assigned to production:Cost InformationInventory in process, January 1Costs incurred in JanuaryTotal costs accounted for by the Filling DepartmentCosts allocated to completed and partially completed units:Inventory in process, January 1 balanceTo complete inventory in process, January 1Cost of completed January 1 work in processStarted and completed in JanuaryTransferred to finished goods in JanuaryInventory in process, January 31Total costs assigned by the Filling DepartmentWholeUnits3,000 ✔300 XEquivalent UnitsDirectMaterials0 ✓DirectMaterialsDirectMaterials Conversion3,000 ✓38,700✔41,700✔Q00Conversion2,100 XConversion000 30001 000000101Total

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Description: Equivalent Units and Related Costs; Cost of Production Report; EntriesDover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department

Equivalent units are based on whole units and their respective percentage of completion. Any cost…

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over 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 cher e balance in the account Work in Process-Filling was as follows on January 1: Work in Process-Filling Department 3.000 units. 70% completed): Direct materials (3.000 x $10.20) Conversion (3,000 x 70% x $6.50) $30.600 13,650 $44.250 e following costs were charged to Work in Process-Filling during January irect materials transferred from Reaction $383.130 129.680 124.585 Department: 38,700 units at $9.90 a unit rect labor actory overhead uring January. 38.400 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 3.300 units. 50% completed. equired: 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

over 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 cher e balance in the account Work in Process-Filling was as follows on January 1: Work in Process-Filling Department 3.000 units. 70% completed): Direct materials (3.000 x $10.20) Conversion (3,000 x 70% x $6.50) $30.600 13,650 $44.250 e following costs were charged to Work in Process-Filling during January irect materials transferred from Reaction $383.130 129.680 124.585 Department: 38,700 units at $9.90 a unit rect labor actory overhead uring January. 38.400 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 3.300 units. 50% completed. equired: 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

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 3PB: Equivalent units and related costs; cost of production report; entries Dover Chemical Company...

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