Question

The following data pertain to the Canandaigua Carpet Company for January.
Work in process, January 1 (in units)......................................... 25,000
Units started during January..................................................... ?
Total units to account for....................................................... 80,000
Units completed and transferred out during January................ ?
Work in process, January 31 (in units)...................................... 20,000
Total equivalent units: direct material....................................... 80,000
Total equivalent units: conversion............................................ ?
Work in process, January 1: direct material.............................. $232,000
Work in process, January 1: conversion................................... ?
Costs incurred during January: direct material......................... ?
Costs incurred during January: conversion................................ 820,000
Work in process, January 1: total cost...................................... 342,600
Total costs incurred during January........................................... 1,220,000
Total costs to account for........................................................ 1,562,600
Cost per equivalent unit: direct material.................................... 7.90
Cost per equivalent unit: conversion......................................... ?
Total cost per equivalent unit................................................... 22.00
Cost of goods completed and transferred out during January................. ?
Cost remaining in ending work-in-process inventory: direct material..... ?
Cost remaining in ending work-in-process inventory: conversion...84,600
Total cost of January 31 work in process.....................................242,600
Additional Information:
a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.
b. The company uses weighted-average process costing.
c. The January 1 work in process was 25 percent complete as to conversion.
d. The January 31 work in process was 30 percent complete as to conversion.

Required:
Compute the missing amounts, and prepare the firm's January production report.



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  • CreatedApril 22, 2014
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