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Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging

Accounting

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.

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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

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