P21-1A Zou Com aging. In the Molding Department, the urethane, rubber, plastics,

Question

P21-1A Zou Com aging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded to prepare a p into bowling balls. In the Packaging Department, the balls are placed in cartorn finished goods warehouse. All materials are entered at the beginning of each process. Labor and (SO 5, 6, 7) pany manufactures bowling balls through two processes: Molding and Pack- Complete four steps manufacturing overhead are incurred uniformly throughout each process. data for the Molding Department during June 2012 are presented below Production Data June Beginning work in process units Units started into production Ending work in process units Percent complete-ending inventory 20,000 2,000 60% Cost Data Materials Labor Overhead $198,000 50,400 112,800 $361,200 Total Instructions (a) Prepare a schedule showing physical units of production. (b) Determine the equivalent units of production for materials and conversion costs. (c) Compute the unit costs of production. (d) Determine the costs to be assigned to the units transferred and in process for June. (e) Prepare a production cost report for the Molding Department for the month of June. P21-2A Chakos Industries Inc

Explanation / Answer

Solution a:

Solution b:

Solution c:

Solution d:

Solution e:

Schedule showing physical units of production Particulars Physical Units Particulars Physical Units Beginning units 0 Unit Completed 18000 Unit started 20000 Ending Units 2000 Total Units 20000 Total Units 20000

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