Pad t * 100%- Weygandt, Financial & Managerial Accounting, 2e Cheater 17 Homewor
ID: 2545385 • Letter: P
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Pad t * 100%- Weygandt, Financial & Managerial Accounting, 2e Cheater 17 Homework Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, pastics, and other materials are molded into bowing bans[n the Packagng Department, the bals are placed in cartons and sent to the inished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred unformly throughout each process. Production and cost data for the Molding Department during June 2017 are presented below beruse12.1 Exercise i Beginning work in process units Units started into production 22,660 2,060 Review Results by Stdy Ending work in process units s 203,940 5,208 6,184 is correct Prepare a schedule showing physical units of preduction. Physical units Units to be accounted for Work in process, June 1 Started into preduction 22660 Units accounted for process, June 30 Your answer is incomect. Try again, Determine the equivalent units of production for materials and conversion costs otal equwalent units Your answer is incomect. Try again Compute the unit costs of production. (Round unit costs to 2 decimal places, e.g. 225.)Explanation / Answer
Prepare a schedule showing Physical units of production
$
Units to be accounted for
Work in process, june 1
0
Started into production
22660
Total units
22660
Units Accounted for
Completed and transferred out
20600
Ending work in process
2060
Total units
22660
Determine the equivalent units of production for materials and conversion costs
Materials
Conversion costs
Transferred out
20600
20600
work in process
(2060*100%)
2060
(2060*40%)
824
Total
22660
21424
Compute the unit cost of production
Unit Material cost:
Total Material cost/ Equivalent cost
203940/22660
9
Unit conversion cost:
Total conversion cost/Equivalent unit of conversion costs
8
[55208+116184]/21424
Materials
$9
Conversion cost
$8
Determine the cost to be assigned to the units transferred out and in process for june
Work in process
$
Transferred out [20600*$17]
350200
Materials [2060*$9]
18540
Conversion cost [824*$8]
6592
Total costs
375340
Prepare a production cost report for the molding department fo the month of june
Rosenthal company
Molding Department
Production cost report
For the month of june 30
Physical units
Materials
Conversion costs
Amount
Work in process
0
Started in production
20600
Total units
20600
Units accounted for
Transferred out
20600
20600
20600
Work in process
2060
2060
824
22660
22660
21424
Unit costs
Materials
Conversion cost
Total
Total costs
203940
171392
375332
Equivalent units
22660
21424
Unit costs
9
8
17
Cost to be accounted for
Work in process june 1
0
Started into production
375332
Total costs
375332
Cost reconciliation schedule
Cost Account for
Transferred out (20600*$17)
350200
Work in process june 1
Materials (2060*9)
18540
Conversion costs (824*8)
6592
25132
Total costs
375332
Prepare a schedule showing Physical units of production
$
Units to be accounted for
Work in process, june 1
0
Started into production
22660
Total units
22660
Units Accounted for
Completed and transferred out
20600
Ending work in process
2060
Total units
22660
Determine the equivalent units of production for materials and conversion costs
Materials
Conversion costs
Transferred out
20600
20600
work in process
(2060*100%)
2060
(2060*40%)
824
Total
22660
21424
Compute the unit cost of production
Unit Material cost:
Total Material cost/ Equivalent cost
203940/22660
9
Unit conversion cost:
Total conversion cost/Equivalent unit of conversion costs
8
[55208+116184]/21424
Materials
$9
Conversion cost
$8
Determine the cost to be assigned to the units transferred out and in process for june
Work in process
$
Transferred out [20600*$17]
350200
Materials [2060*$9]
18540
Conversion cost [824*$8]
6592
Total costs
375340
Prepare a production cost report for the molding department fo the month of june
Rosenthal company
Molding Department
Production cost report
For the month of june 30
Physical units
Materials
Conversion costs
Amount
Work in process
0
Started in production
20600
Total units
20600
Units accounted for
Transferred out
20600
20600
20600
Work in process
2060
2060
824
22660
22660
21424
Unit costs
Materials
Conversion cost
Total
Total costs
203940
171392
375332
Equivalent units
22660
21424
Unit costs
9
8
17
Cost to be accounted for
Work in process june 1
0
Started into production
375332
Total costs
375332
Cost reconciliation schedule
Cost Account for
Transferred out (20600*$17)
350200
Work in process june 1
Materials (2060*9)
18540
Conversion costs (824*8)
6592
25132
Total costs
375332
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