Production and cost data for the Molding Department during June2008 are presente
ID: 2433328 • Letter: P
Question
Production and cost data for the Molding Department during June2008 are presented below.
Production Data
June
Beginning work in process units
-0-
Units started into production
20,000
Ending work in process units
2,000
Percent complete-ending inventory
60%
Cost Data
Materials
$198,000
Labor
50,400
Overhead
112,800
Total
$361,200
Prepare a schedule showing physical units of production.(If answer is zero, please enter 0. Do not leave anyfields blank.)
Physical Units
Units to be accounted for
Work in process, June 1
Started into production
Total units
Units accounted for
Transferred out
Work in process, June 30
Total units
Determine the equivalent units of production for materials andconversion costs.
Materials
Conversion costs
Compute the unit costs of production.
Unit cost-Materials
$
Unit cost-Conversion costs
$
Total unit costs
$
Production Data
June
Beginning work in process units
-0-
Units started into production
20,000
Ending work in process units
2,000
Percent complete-ending inventory
60%
Cost Data
Materials
$198,000
Labor
50,400
Overhead
112,800
Total
$361,200
Explanation / Answer
Compute the unit costs of production.
Unit cost-Materials (Note a)
$
$
Total unit costs
Unit cost-Materials (Note a)
$
Unit cost-Conversion costs (Note b)$
Total unit costs
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