Question

Erin Company's inventory at December 1, and the costs charged to Work in Process—Department B during December are as follows:

1,200 units, 40% completed		$47,800
From Department A, 26,000 units		845,000
Direct labor		312,000
Factory overhead		176,770

During December, all direct materials are transferred from Department A, the units in process at December 1 were completed, and of the 26,000 units entering the department, all were completed except 1,000 units which were 70% completed as to conversion costs. Inventories are costed by the first-in, first-out method.

Prepare a cost of production report for December.

Round your cost per equivalent unit amounts to two decimal places. Round all other amounts to the nearest dollar. If an amount value is zero enter "0" as answer.

Erin Company
Cost of Production Report--Department B
For the Month Ended December 31
Unit Information
Units charged to production:
Inventory in process, December 1
Received from Department A
Total units accounted for by Department B
Units to be assigned cost:
		Equivalent Units
	Whole Units	Direct Materials	Conversion
Inventory in process, December 1 (40% completed)
Started and completed in December
Transferred to finished goods in December
Inventory in process, December 31 (70% complete)
Total units to be assigned costs
Cost Information
COSTS:
		Direct Materials Costs	Conversion Costs
Costs per equivalent unit:
Total costs for December in Department B		$	$
Total equivalent units
Cost per equivalent unit		$	$
Costs charged to production:
	Direct Materials Costs	Conversion Costs	Total Costs
Inventory in process, December 1			$
Costs incurred in December
Total costs accounted for by Department B			$
Costs allocated to completed and partially completed units:
Inventory in process, December 1, balance			$
To complete inventory in process, December 1	$	$
Started and completed in December
Transferred to finished goods in December			$
Inventory in process, December 31
Total costs assigned by Department B			$

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Answer 1

Erin Company Cost of Production Report--Department B For the Month Ended December 31
		Equivalent units
	Whole Units	Direct material	Conversion
Inventory in process, December 1 (40% completed)	1200
Received from Department A	26000
Total units accounted for by Dept. B	27200
Units to be assigned costs:
Inventory in process, Dec 1
(40% completed) 1200*60%=720	1200	0	720
Started and completed in dec	25000	25000	25000
Transferred to finished goods in Dec	26200	25000	25720
Inventory in process, Dec 30 (70% completed)	1000	1000	700
Total units to be assigned costs	27200	26000	26420
	Costs
	Direct material	Conversion	Total Costs
Costs
Units Costs
Total costs for Dec in Dept. B	845000	488770	1333770
Total equivalent units	26000	26420
Cost per equivalent unit	32.5	18.50
Costs charged to production:
Inventory in process, Dec1			47800
Costs incurred in Dec (845000+312000+176770)			1333770
Total costs accounted for byDepartment B			1381570
Costs allocated to completed and partially completed units:
Inventory in process, Dec 1, bal.			47800
To complete inventory inprocess, Dec 1	0	13320	13320
Started and completed in April	812500	462500	1275000
Transferred to finishedgoods in Dec			1336120
Inventory in process, Dec 30	32500	12950	45450
Total costs assigned by Dept. B			1381570