P16.2A (LO 3, 4), AP Rosenthal Company manufactures bowling balls through two processes: Mold- ing and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and man- ufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2022 are presented below. Production Data Beginning work in process units Units started into production Ending work in process units Percent complete ending inventory Materials Labor Overhead Total Cost Data June -0- 22,000 2,000 40% $198,000 53,600 112,800 $364,400 Instructions a. Prepare a schedule showing physical units of production. b. Determine the equivalent units of production for materials and conversion costs. c. Compute the unit costs of production. d. Determine the costs to be assigned to the units transferred out and in process for June. e. Prepare a production cost report for the Molding Department for the month of June.
P16.2A (LO 3, 4), AP Rosenthal Company manufactures bowling balls through two processes: Mold- ing and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and man- ufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2022 are presented below. Production Data Beginning work in process units Units started into production Ending work in process units Percent complete ending inventory Materials Labor Overhead Total Cost Data June -0- 22,000 2,000 40% $198,000 53,600 112,800 $364,400 Instructions a. Prepare a schedule showing physical units of production. b. Determine the equivalent units of production for materials and conversion costs. c. Compute the unit costs of production. d. Determine the costs to be assigned to the units transferred out and in process for June. e. Prepare a production cost report for the Molding Department for the month of June.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...
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Can you help me with the problem attached? I have included the blank production reports attached to help with the question. Put together a production report and answer questions a., b., c., and d.
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Step 1: Define Production cost report
VIEWStep 2: Schedule showing physical units of production
VIEWStep 3: Computation of Equivalent unit of production for material and conversion cost
VIEWStep 4: Computation of Unit cost of Production
VIEWStep 5: Cost assigned to units transferred out and in process
VIEWStep 6: Production cost report
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