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Homework answers / question archive / Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging
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 beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below.
Production Data June
Beginning work in process units 0 Units started into production 27,720 Ending work in process units 2,520 Percent complete—ending inventory 40 %
Cost Data
Materials $249,480 Labor 67,536 Overhead 142,128 Total $459,144
A. Schedule showing physical units of production.
Units to be accounted for
WIP June 1:
Started into Production:
Total Units:
Units accounted for:
Transferred Out:
WIP June 30:
Total Units:
B. Equivalent units of production for materials and conversion costs.
Total Equivalent Units for Materials:
Total Equivalent Units for Conversion Costs:
C. The unit costs of production. (Round unit costs to 2 decimal places)
Unit costs for (Materials):
Unit costs (Conversion Costs):
Unit costs (Total):
D. The costs to be assigned to the units transferred and in process for June.
Transferred Out:
WIP June 30:
E. Production cost report for the Molding Dept for the month of June
*Please show calculations, so I can see where I made any mistakes.
a. | ||||
Physical Units: | ||||
Units to be accounted for | ||||
Work in Process, June 1 | 0 | |||
Units Started into production | 27,720 | |||
Total Units | 27,720 | |||
Units accounted for | ||||
Transferred out | 25,200 | |||
Work in process, June 30 | 2,520 | |||
Total units | 27,720 |
b. | Materials | Conversion | |||||||
Total Equivalent units | 27720 | 26208 | |||||||
Working: | |||||||||
Equivalent units of : | |||||||||
Materials | 25,200 | + | 2,520 | * | 100% | = | 27720 | ||
Conversion | 25,200 | + | 2,520 | * | 40% | = | 26208 |
c. | Materials | Conversion cost | Total Unit Cost | |||
$9.00 | $8.00 | $17.00 | ||||
Working: | ||||||
Materials | Conversion cost | |||||
Total Costs | $249,480 | 209664 | ||||
Equivalent units of Production | 27720 | 26208 | ||||
Cost per unit | $9.00 | $8.00 |
d. | |||||||
Costs of unit: | |||||||
Transferred out | $428,400 | ||||||
Work in process, June 30 | $30,744 | ||||||
Working: | |||||||
EUP | Cost per EUP | Total Cost | |||||
Transferred out: | |||||||
Materials | 25,200 | $9 | $226,800 | ||||
Conversion | 25,200 | $8 | $201,600 | $428,400 | |||
Work in process, June 30: | |||||||
Materials | 2,520 | $9 | $22,680 | ||||
Conversion | 1008 | $8 | $8,064 | $30,744 |
e) | ROSENTHAL COMPANY | |||||
Molding Department | ||||||
Production cost Report | ||||||
For the month Ended June 30, 2017 | ||||||
Equivalent units | ||||||
Quantities | Physial Units | Materials | Conversion | |||
Units to be acccounted for: | ||||||
Work in process, June 1 | 0 | |||||
Started into production | 27,720 | |||||
Total Units | 27,720 | |||||
Units accounted for | ||||||
Transferred out | 25,200 | 25,200 | 25,200 | |||
Work in process,June 30 | 2,520 | 2,520 | 1008 | |||
Total Units | 27,720 | 27,720 | 26,208 | |||
Costs | Materials | Conversion | Total | |||
Total costs | $249,480 | 209664 | ||||
Equivalent unit | 27,720 | 26,208 | ||||
Unit cost | $9 | 8 | ||||
Cost to be accounted for: | ||||||
Work in process, June 1 | 0 | |||||
Started into production | $459,144 | |||||
Total cost | 459144 | |||||
Cost Reconilation Schedule: | ||||||
Cost Accounted for: | ||||||
Transferred out | 428,400 | |||||
Work in process, June 30 | ||||||
Materials | 22680 | |||||
Conversion Cost | 8064 | 30744 | ||||
Total Cost | 459,144 |