Question

please fill in cost and cost reconciliation schedule

assessmen educ y.co assessme.. 1 Chapter 3 - Homework Assignment 2 BA Pre bib 4a (10 Question 2 of 3 27.2/38 III ompa View Policies Show Attempt History Current Attempt in Progress ests charged 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 a product are as follows. 000 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete Cutting Department T12-Tables 0 21,600 3,240 60 150 127 1.589 225 337 % complete as pmplete as to for the Assem Od 000 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 410,400 253.152 112.320 $775,872 (a 1)

Answer 1

Solution

THAKIN INDUSTRIES INC.
Cutting department-Plant 1
Production cost report
		Equivalent Units
Quantities	Physical Units	Material	Conversion Costs
Units to be accounted for
Work in process, July 1	0
Started into Production	21600
Total Units	21600
Units Accounted for
Transferred Out	18360	18360	18360
Work in process July 31	3240	3240	1944
Total Units	21600	21600	20304

..

	Material	Conversion Costs	Total
Costs
Unit Costs
Total Cost	$      410,400.00	$    365,472.00	$ 775,872.00
Equivalent Units	21600	20304
Unit Costs	$                 19.00	$               18.00	$             37.00
Cost to be accounted for
Work in process, July 1		0
Started into Production		$    775,872.00
Total Cost		$    775,872.00

.

Cost Reconciliation
Costs accounted for
Transferred Out		$    679,320.00
Work in process, July 31
Materials	$        61,560.00
Conversion Costs	$        34,992.00	$      96,552.00
Total Costs		$    775,872.00