Question

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.

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

c) Cost reconciliation

T12 Tables
Cost accounted for
Transferred out		691900
Work in process
Material	62700
Conversion Cost	35640	98340
Total Cost		790240

c) Cost reconciliation

C10 Chairs
Cost accounted for
Transferred out		537246
Work in process
Material	9900
Conversion Cost	5944	15844
Total Cost		553090