Images are attached. Cost InformationCost per equivalent unit:DirectMaterials ConversionTotal costs for January in Filling DepartmentTotal equivalent unitsCost per equivalent unitCosts assigned to production:DirectTotalMaterials ConversionInventory 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 Department. 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). 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 DecreaseAmountChange in direct materials cost per equivalent unitChange in conversion cost per equivalent unit. Discuss the uses of the cost of production report and the results of part (3).he cost of production report may be used as the basis for allocating product costs betweenand 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 andny significant differences investigated.00Q O O 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(4,500 units, 20% completed):Direct materials (4,500 x $16.40)$73,800Conversion (4,500 x 20% x $10.70)9,630$83,430The following costs were charged to Work in Process-Filling during January:Direct materials transferred from ReactionDepartment: 58,100 units at $16.20 a unit$941,220Direct labor323,810Factory overhead311,110During January, 57,600 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 5,000 units, 10% 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.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:Equivalent UnitsWholeDirectUnitsMaterials ConversionInventory in process, January 1Started and completed in JanuaryTransferred to finished goods in JanuaryInventory in process, January 31Total units to be assigned costsCost InformationCost per equivalent unit:DirectMaterialsConversionTotal costs for January in Filling DepartmentTotal equivalent unitsCost per equivalent unitCosts assigned to production:

The equivalent units are calculated on the basis of percentage of the work completed during the…

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 (4,500 units, 20% completed): Direct materials (4,500 x $16.40) $73.800 Conversion (4,500 x 20% x $10.70) 9,630 $83,430 The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 58.100 units at $16.20 a unit $941,220 Direct labor 323,810 Factory overhead 311.110 During January, 57,600 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 5,000 units, 10% 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. Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information

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 (4,500 units, 20% completed): Direct materials (4,500 x $16.40) $73.800 Conversion (4,500 x 20% x $10.70) 9,630 $83,430 The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 58.100 units at $16.20 a unit $941,220 Direct labor 323,810 Factory overhead 311.110 During January, 57,600 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 5,000 units, 10% 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. Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question

Images are attached.

Cost Information
Cost per equivalent unit:
Direct
Materials Conversion
Total costs for January in Filling Department
Total equivalent units
Cost per equivalent unit
Costs assigned to production:
Direct
Total
Materials Conversion
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
. 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)
. 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 Decrease
Amount
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).
he 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 (3), can be studied carefully and
ny significant differences investigated.
00
Q O O

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
(4,500 units, 20% completed):
Direct materials (4,500 x $16.40)
$73,800
Conversion (4,500 x 20% x $10.70)
9,630
$83,430
The following costs were charged to Work in Process-Filling during January:
Direct materials transferred from Reaction
Department: 58,100 units at $16.20 a unit
$941,220
Direct labor
323,810
Factory overhead
311,110
During January, 57,600 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 5,000 units, 10% 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.
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
Whole
Direct
Units
Materials Conversion
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:
Direct
Materials
Conversion
Total costs for January in Filling Department
Total equivalent units
Cost per equivalent unit
Costs assigned to production:

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