Problem 21-3A Cutting Department Production Data—July Plant 1 T12-Tables Plant 2
ID: 2514652 • Letter: P
Question
Problem 21-3A
Cutting Department
Production Data—July
Plant 1
T12-Tables
Plant 2
C10-Chairs
Cost Data—July
T12 Tables
C10 Chairs
LINK TO TEXT
LINK TO TEXT
Materials
Conversion Costs
LINK TO TEXT
LINK TO TEXT
Materials
Conversion Costs
Total Costs
LINK TO TEXT
LINK TO TEXT
T12 Tables
Costs accounted for:
Transferred out
Work in process
Materials
Conversion costs
Total costs
C10 Chairs
Costs accounted for:
Transferred out
Work in process
Materials
Conversion costs
Total costs
LINK TO TEXT
LINK TO TEXT
THAKIN INDUSTRIES INC.
Cutting Department—Plant 1
Production Cost Report
For the Month Ended July 31, 2017
Equivalent Units
Quantities
Physical
Units
Materials
Conversion
Costs
Costs
Materials
Conversion
Costs
Total
Cost Reconciliation Schedule
Problem 21-3A
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows.Cutting Department
Production Data—July
Plant 1
T12-Tables
Plant 2
C10-Chairs
Cost Data—July
Work in process, July 1 $0 $0 Materials 391,400 296,640 Labor 241,432 113,300 Overhead 107,120 107,944 Total $739,952 $517,884Explanation / Answer
Solution :
Computation of Physical and Equivalent unit of Production - Weighted Average (Cutting Department - Plant 1, T-12 - Tables) Particulars Physical Units Material Conversion Unit completed & Transferred out 17510 17510 17510 Closing WIP: 3090 Material (100%) 3090 Conversion (60%) 1854 Equivalent units of production 20600 20600 19364Related Questions
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