Please answer using only the numbers provided in THIS question. Thanks.
Solution
Transferred out | $ 350,200.00 |
Work in process, June 30 | $ 25,132.00 |
Working
Reconciliation of Units | ||
A | Opening WIP | - |
B | Introduced | 22,660 |
C=A+B | TOTAL | 22,660 |
D | Transferred | 20,600 |
E=C-D | Closing WIP | 2,060 |
.
Statement of Equivalent Units(Weighted average) | |||||||
Material | Conversion cost | ||||||
Units | Complete % | Equivalent units | Complete % | Equivalent units | |||
Transferred | 20,600 | 100% | 20,600 | 100% | 20,600 | ||
Closing WIP | 2,060 | 100% | 2,060 | 40% | 824 | ||
Total | 22,660 | Total | 22,660 | Total | 21,424 |
.
Cost per Equivalent Units (Weighted average) | ||||
COST | Material | Conversion cost | TOTAL | |
Beginning WIP Inventory Cost | $ 0 | |||
Cost incurred during period | $ 203,940 | $ 171,392 | $ 375,332 | |
Total Cost to be accounted for | $ 203,940 | $ 171,392 | $ 375,332 | |
Total Equivalent Units | 22,660 | 21,424 | ||
Cost per Equivalent Units | $ 9.00 | $ 8.00 |
.
Statement of cost (Weighted average) | |||||
Cost | Equivalent Cost/unit | Ending WIP | Transferred | ||
Units | Cost Allocated | Units | Cost Allocated | ||
Material | $ 9.00 | 2,060 | $ 18,540.00 | 20,600 | $ 185,400 |
Conversion cost | $ 8.00 | 824 | $ 6,592.00 | 20,600 | $ 164,800.00 |
TOTAL | $ 375,332 | TOTAL | $ 25,132 | TOTAL | $ 350,200 |
Please answer using only the numbers provided in THIS question. Thanks. Rosenthal Company manufactures bowling balls...
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Please answer using only the numbers provided in THIS problem. Thanks. Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for...
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