Problem 3-2A (Part Level Submission) Rosenthal Company manufactures bowling ball

Question

Problem 3-2A (Part Level Submission) Rosenthal Company manufactures bowling balls through two processes: Molding 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 beginring of ead process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department durnng June below. Production Data June Beginning work in process units Units started into production Ending work in process units Percent complete-ending inventory 22,660 2,060 40% Cost Data Materials Labor Overhead $203,940 55,208 116,184 $375,332 Total ? (a) ?Your answer is correct. Prepare a schedule showing physical units of production ugen/shared/assignment/test/sglist.uniid-asnmt2205 148EN100DC earch

Explanation / Answer

ROSENTHAL COMPANY Molding Department Production cost Report For the month ended June 30, 2017 Equivalent Units Quantities Physical units Material Conversion Cost Units to be accounted for: Worki in progress, June 1 0 Started in to production                   22,660 Total Units                   22,660 Units to be accounted for: Transferred out                   20,600                   20,600                   20,600 Worki in progress, June 30                     2,060                     2,060                         824 (2060 x 40 %) Total Units                   22,660                   22,660                   21,424 Unit Costs Material Conversion Cost Total 1.Total Costs $           2,03,940 $           1,71,392 $       3,75,332 ($55208+$116184) 2.Equivalent Units                   22,660                   21,424 Unit Costs (1/2) $                         9 $                         8 $                   17 Costs to be accounted for: Worki in progress, June 1 0 Started in to production (22660 x $ 17) $       3,85,220 Total Costs $       3,85,220 Cost reconciliation Schedule Costs accounted for: Transferred out (20600 x $ 17) $       3,50,200 Worki in progress, June 30 Material (2060 x $ 9) $           18,540 Conversion Costs (824 x $ 8) $             6,592 Total Costs $       3,75,332

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