Shamrock Industries uses process costing. All of the company\'s manufacturing ac

Question

Shamrock Industries uses process costing. All of the company's manufacturing activities take place in a single processing department. The following information was available for the month of June: Direct materials Direct labor Manufacturing overhead applied $ 92,000 26,000 42,000 Total costs to account for in June $ 160,000 The amounts of work in process at the beginning and end of the month were im material and assigned no dollar value. During June, 13,250 units were completed, of which 10,000 were sold on account at $25 per unit Complete a production cost report for Shamrock Industries for the month of June. SHAMROCK INDUSTRIES Production Cost Report For the Month of June Total Units Part I. Physical Flow Inputs: Beginning WIP Started Units to account for: Outputs: . Units completed Ending WIP Units accounted for

Explanation / Answer

Shemrock Industries Production Cost Report for the m/o june Part 1 Physical flow Total Units Inputs Beginning WIP 0 Started 13250 Units to accounted for 13250 Output Units completed 13250 Ending WIP 0 Units accounted for 13250 Direct Material Conversion Part 2 Equivalent units Based on monthly input Beginning WIP 0 0 Units started 13250 13250 Equivalent units of input 13250 13250 Based on monthly output Units completed 13250 13250 Ending WIP 0 0 Equivalent units of output 13250 13250 Part 3 Cost per Equivalent units Total unit cost Direct Material Conversion Input costs $92,000 $68,000 Divide by equivalent units 13250 13250 Cost per equivalent units $12.08 $6.94 $5.13 Part 4 Total cost assignment Total unit cost Direct Material Conversion Cost to account for Cost of beginning WIP $0 Cost added during the period $160,000 Total cost to account for $160,000 Cost accounted for Cost of goods transferred Beginning WIP last period $0 $0 $0 Beginning WIP this period $0 $0 $0 Started and completed $160,000 $92,000 $68,000 Total Cost transferred $160,000 $92,000 $68,000 Add ending WIP $0 $0 $0 Total cost accounted for $160,000 $92,000 $68,000

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.