CALCULATOR Problem 16-3A (Part Level Submission) ies Inc. manufactures dorm furn

Question

CALCULATOR Problem 16-3A (Part Level Submission) ies Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly Production and cost data for the first process in making two products in two different manufacturing plants are as follows Cutting Department Plant 1 Plant 2 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete T12-Tables C10-Chairs 20,000 18,000 500 80 60 Cost Data-July Work in process, July 1 Materials Labor Overhead $0 380,000 234,400 104,000 $718,400 $0 288,000 110,000 104,800 $502,800 Total ? (al) ?Your answer is correct. For each plant compute the physical units of production. T12 Tables C10 Chairs

Explanation / Answer

a1 Plant A Plant B Work in process,July 1 0 0 Units started into production 20000 18000 Units to be accounted for 20000 18000 a2 Units completed & transferred out: Plant A Plant B Units started into production 20000 18000 Less: Work in process,July 31 3000 500 Units completed & transferred out 17000 17500 For T12 Tables: Materials Conversion costs Units completed & transferred out 17000 17000 Work in process,July 31 3000 1800 (3000*100%) (3000*60%) Equivalent units of production 20000 18800 For C10 chairs: Materials Conversion costs Units completed & transferred out 17500 17500 Work in process,July 31 500 400 (500*100%) (500*80%) Equivalent units of production 18000 17900 a3 For T12 Tables: Materials Conversion costs Total cost to be accounted (a) 380000 338400 (234400+104000) Equivalent units of production (b) 20000 18800 Unit cost (a)/(b) 19.00 18.00 For C10 chairs: Materials Conversion costs Total cost to be accounted (a) 288000 214800 (110000+104800) Equivalent units of production (b) 18000 17900 Unit cost (a)/(b) 16.00 12.00 a4 For T12 Tables: Costs accounted for: Completed and transferred out 17000*(19+18) 629000 Work in process Materials (3000*19) 57000 Conversion costs (3000*18) 54000 111000 Total costs 740000 For C10 chairs: Costs accounted for: Completed and transferred out 17500*(16+12) 490000 Work in process Materials (500*16) 8000 Conversion costs (500*12) 6000 14000 Total costs 504000

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