Cutting Department | ||
Plant 1 | Plant 2 | |
Production Data-July | T12-Tables | C10-Chairs |
Work in process units, July 1 | 0 | 0 |
Units started into production | 20000 | 18000 |
Work in process units, July 31 | 3000 | 500 |
Work in process percent complete | 60 | 80 |
Cost Data-July | ||
Work in process, July 1 | 0 | 0 |
Materials | 380000 | 288000 |
Labor | 234400 | 110000 |
Overhead | 104000 | 104800 |
Total | 718400 | 502800 |
(a) For each plant
1. Compute the physical units of production
2. Compute equivalent units of production for materials and for conversion costs
3. Determine the unit costs of production
4. Show the assignment of costs to units transferred out and in process
(b) Prepare the production cost report for Plant 1 for July 2017
1 | T12-Tables | C10-Chairs | ||
Units to be accounted for | 20,000 | 18,000 | ||
2 | Material | Conversion | ||
T12-Tables | 20,000 | 18,800 | ||
C10-Chairs | 18,000 | 17,900 | ||
3 | Material | Conversion Cost | Total Costs | |
T12-Tables | $380,000 | $338,400 | $718,400 | |
C10-Chairs | $288,000 | $214,800 | $502,800 | |
4 | T12-Tables | |||
Costs accounted for: | ||||
Transferred out | $629,000 | |||
Work in Process | ||||
Materials | $57,000 | |||
Conversion Costs | $32,400 | $89,400 | ||
Total costs | $718,400 | |||
C10-Chairs | ||||
Costs accounted for: | ||||
Transferred out | $490,000 | |||
Work in Process | ||||
Materials | $8,000 | |||
Conversion Costs | $4,800 | $12,800 | ||
Total costs | $502,800 | |||
Cutting Department Plant 1 Plant 2 Production Data-July T12-Tables C10-Chairs Work in process units, July 1...
Plant 1 T12-Tables Plant 2 C10-Chairs Production Data-July 16,480 Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 20,600 3,090 515 80 Cost Data-July Work in process, July 1 Materials Labor Overhead $0 391,400 241,432 107,120 $739,952 $0 296,640 113,300 107,944 $517,884 Total (al) Your answer is correct. For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for 20600 16480...
Thakin Industries Inc. manufactures dorm furniture in separate processes Production and cost data for the first process in making two products in tw Cutting Department Plant 1 Plant 2 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete T12-Tables c10-Chairs 0 17,500 700 80 G. 19,500 3,100 60 Cost Data-July Work in process, July1 s0 390,000 234, 700 112,240 $0 Materials 280,000 113,000 112,680 Labor Overhead...
Problem 16-3A (Part Level Submission) 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 Work in process units, July 1 0 0 Units started into production 24,600 19,680 Work in process units, July 31 3,690...
Problem 16-3A (Part Level Submission) 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 Work in process units, July 1 0 0 Units started into production 25,000 20,000 Work in process units, July 31 3,750...
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...
Problem 16-3A (Part Level Submission) Seagren Industries Inc. manufactures in separate processes furniture for homes. 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 Plant 1 plant 2 T12-Tables 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...
Problem 16-3A (Part Level Submission) 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 Work in process units, July 1 0 0 Units started into production 21,000 16,800 Work in process units, July 31 3,150...
Thakin Industries Inc, manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incur uniformly, Production and cost data for the first process in making two products in two different manufacturing plants are as follows. Cutting Department Plant 1 Plant 2 T12-Tables 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 22,400 3,360 17,920 560 60...
Problem 16-3A 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 processin products in two different manufacturing plants are as follows. Cutting Department g two T12-Tabes CIO-Chairs Production Date -July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 17,600 22,000 3,300 Cost Date-July Work in...
Problem 17-3A (Part Level Submission) 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 Plant 1 T12-Tables Plant 2 C10-Chairs Production Data-Jul Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete...