redo $23 mation Exam 2 Exam 2 6 Help Save& Exit Submit Saved Shamrock Industries

Question

redo $23 mation Exam 2 Exam 2 6 Help Save& Exit Submit Saved Shamrock Industries uses process costing. All of the company's manufacturing activities take place in a single processing department The following information was available for the month of June. $ 82,000 26,000 Direct materials Direct labor Manufacturing overhead applied Total costs to account for in June 15 points 145,000 01:58 09 The amounts of work in process at the beginning and end of the month were immaterial and assigned no dollar value. During June, 3,250 units were completed, of which 10.000 were sold on account at $25 per unit. Complete a production cost report for Shamrock Industries for the month of June. (Do not round intermediate calculations.) SHAMROCK INDUSTRIES Production Cost Report Part I. Physical Flow Total Units Inputs Beginning WIP Started Units to account for Outputs: Units completed . Ending WI Units accounted for Part II. Equivalent Units Direct Materials Conversion Costs Based on monthly input: Beginning WIP Units started

Explanation / Answer

Production Cost Report: For the month of June: Part 1 Physical flow: Total Units Inputs: B wip 0 Started 13250 Units to account for 13250 Outputs: Units competed 13250 Ending WIP 0 Units accounted for: 13250 Part II Equivalent Units: Units DM Conv costs B WIP 0 Units started 13250 13250 13250 Equivalent units of input 13250 13250 13250 Based on monthly output: Units comple ted 13250 13250 13250 E WIP 0 0 0 Equivalent units of output 13250 13250 13250 Part III: Cost Per Eq Unit: Total Unit cost DM Conv costs Input costs 82000 63000 Divide by equiva units 13250 13250 Costs per Eq unit 6.188679245 4.754716981 Part IV Total Cost assignment Total costs DM Conv costs Cost to account for: cost of BWIP 0 0 0 cost added during the period 145000 82000 63000 Total cost to account for 145000 82000 63000 Costs accounted for: Cost of goods transferred 145000 82000 63000 BWIP last period 0 0 0 BWIP this period 0 0 0 Started and completed 145000 82000 63000 Total cost transferred 145000 82000 63000 Add ending WIP 0 0 0 Total cost accounted for 145000 82000 63000

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