Direct materials: $89,750 Direct labor: 28,975 Manufacturing overhead applied: 4

Question

Direct materials: $89,750 Direct labor: 28,975 Manufacturing overhead applied: 40,275
Total costs to account for in June $159,000
The amount of work in process at the beginning and end of the month were immaterial and assigned no dollar value. During June, 13,250 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 found intermediate calculations) uses process costing. All of the company's manufacturing activities take place in a Shamrock Industries single processing department. The following information was available for th e month of June: Direct materials Direct labor Manufacturing overhead applied 89,750 28,975 40,275 Total costs to account for in June $159,000 The amounts of work in process at the beginning and end of the month were immaterial and assigned no dollar value. During June, 13,250 uni unit. ts were completed, of which 10,000 were sold on account at $25 per Complete a production cost report for Shamrock Industries for the month of June. (Do not round intermediate calculations.)

Explanation / Answer

Shemrock Industries Production Cost Report for the m/o june Part 1 Physical flow Total Units Inputs Beginning WIP 0 Started 13250 Units to accounted for 13250 Output Units completed 13250 Ending WIP 0 Units accounted for 13250 Direct Material Conversion Part 2 Equivalent units Based on monthly input Beginning WIP 0 0 Units started 13250 13250 Equivalent units of input 13250 13250 Based on monthly output Units completed 13250 13250 Ending WIP 0 0 Equivalent units of output 13250 13250 Part 3 Cost per Equivalent units Total unit cost Direct Material Conversion Input costs 89750 69250 Divide by equivalent units 13250 13250 Cost per equivalent units 12 6.7735849 5.226415 Part 4 Total cost assignment Total unit cost Direct Material Conversion Cost to account for Cost of beginning WIP 0 Cost added during the period 159000 Total cost to account for 159000 Cost accounted for Cost of goods transferred Beginning WIP last period 0 0 0 Beginning WIP this period 0 0 0 Started and completed 159000 89750 69250 Total Cost transferred 159000 89750 69250 Add ending WIP 0 0 0 Total cost accounted for 159000 89750 69250

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