The following are the operating and cost data information for January.

The January 1 Beginning Work In Process - Dyeing consisted of 15,000 units (65% complete)

The cost for this inventory include:

$20,000 of direct materials,

$35,000 of direct labor, and

$65,000 of factory overhead.

In addition to the beginning inventory, the company started 65,000 units

They incurred the following cost into Work-In-Process Inventory:

Direct materials, $190,000

Direct labor, $ 90,000

Factory overhead, $125,000

During January, the company completed and transferred out 55,000 units of its product to the WIP Sewing Department.

At the end of the month, the work in process inventory consisted of 25,000 units that were 20% complete with respect to conversion cost. A) Prepare the company's process cost summary for January:

The report should include all of the following:

a) Units to Account For and Units Accounted For

b) Find Equivalent Units

c) Cost to Account For

d) Cost per Equivalent Unit

e) Cost Accounted For

B) Prepare the Journal entry for the transfer to the Sewing Department

Process Costing Worksheet W Average method Step 1 - Find Units to Account For BI Started/Transferred in Total Units to Account For Step 3 - Find Equivelant Units % C&TO El Total Equivelant Units Step 4- Cost to Account For Beginning Cost Incurred during the period Total Cost to Account For Step 5-Cost per EU Divide by EU Cost per EU Step 6 Cost Accounted For Transferrec Out Ending Inventory EU C& TO (All should be at 100%) TI+DM+CC El TI DM CC Totals If you do not have any units transferred in- Then you would not have a TI column- only would have DM and CC 75% Cost Rolls Transferred In Transferred In Step 2- Units Accounted For Completed & Trans Out El Total Units Accounted For DM DM CC-Includes DL and OH Totals 8 CC