Thakin Industries Inc. manufactures dorm furniture in separate processes. In eac

Question

Thakin Industries 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 Data-July T12-Tables C10-Chairs Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 24,200 3,630 60 19,360 605 80 Cost Data-July Work in process, July Materials Labor Overhead so 459,800 283,624 125.840 50 348,480 133,100 Total $608,388 For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 5.25.) Materials Conversion Costs Total Costs Unit cests-T:2 Tables 9.0 13.22 37.22 unit costs-C10 Chairs 18.0 13.51 21.51

Explanation / Answer

Calculate unit cost

Materials conversion costs total costs Unit cost T12 tables 19.00 18.00 37.00 Unit cost C10 chairs 18.00 13.51 31.51

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