Question

Swifty 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 a product are as follows.

Cutting Department T12-Tables Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 20,400 3,060 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 387,600 239,088 106,080 $732,768 Compute the physical units of production. T12 Tables Units to be accounted for Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables Determine the unit costs of production. Materials Conversion Costs Total Costs Unit costs-T12 Tables Show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out Work in process Materials

Answer 1

a
1
	T12 Tables
Units to be accounted for	20400
2
	Materials	Conversion Costs
T12 Tables	20400	19176
3
	Materials	Conversion Costs
Unit costs T12 Tables	19.00	18.00
4
Costs accounted for:
Transferred out		641580
Work in process:
Materials	58140
Conversion costs	33048	91188
Total costs		732768
b
Production Cost Report
For the Month Ended July 31, 2020
		Equivalent Units
	Physical Units	Materials	Conversion Costs
Units to be accounted for
Work in process, July 1	0
Started into production	20400
Total units	20400
Units accounted for
Transferred out	17340	17340	17340
Work in process, July 31	3060	3060	1836
Total units	20400	20400	19176
		Materials	Conversion Costs	Total
Unit costs:
Total costs		387600	345168	732768
Equivalent units		20400	19176
Unit costs		19.00	18.00	37.00
Costs to be accounted for
Work in process, July 1				0
Started into production				732768
Total costs				732768
Cost Reconciliation Schedule
Costs accounted for
Transferred out				641580	=17340*37
Work in process, July 31
Materials			58140		=3060*19
Conversion costs			33048	91188	=1836*18
Total costs				732768