Question

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.
Plant 1 T12-Tables Plant 2 C10-Chairs Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 22,000 3,300 17,600 550 80 Cost Data-July $0 Work in process, July 1 Materials Labor Overhead Total $0 418,000 257,840 114,400 $790,240 316,800 121,000 115,280 $553,080 (al) Your answer is correct. For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for 22000 001 17600 Click if you would like to Show Work for this question: Open Show Work

Answer 1

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.

Answer Part al) T12 Tables 22000 C10 Chairs 17600 Units to be accounted for 6 Part a2) Statement of equivalent Units of Conversion Cost T12 Tables C10 Chairs Conversion cost Conversion cost % Completion % Completion equivalent Units equivalent Units 10 Units completed and transferred 100 18700 L 100 17050 (122000- 11 ((17600-550)*100%) 3300) 100%) 12 Work in Process Units July 31 | 60 | 1980 80 440 13 (3300*60%) (550*80%) 14 Total Equivalent Units 20680 17490 17 19 Units completed and transferred Statement of equivalent Units of Material T12 Tables C10 Chairs Material cost Material cost % Completion % Completion equivalent Units equivalent Units 100 18700 100 17050 (122000- 3300) 100%) ((17600-550)*100%) 100 3300 100 550 (3300*100%) (550*100%) 22000 17600 20 21 Work in Process Units July 31 23 Total Equivalent Units 24 25 Thus the final answer 27 T12 Tables 28 C10 Chairs Material 22000 17600 Conversion costs 20680 17490 Sheet 87 SheetAg Sheet 89 Sheet90 Sheet91 Sheet2 Sheet 93 Sheet 94 Sheet 95