Question

Crane 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 the Molding Department during June 2020 are presented below. June 0 Production Data Beginning work in process units Units started into production Ending work in process units Percent complete-ending inventory 22,220 2,020 40% Cost Data Materials $199,980 Labor 54,136 Overhead 113,928 Total $368,044

Answer 1

Physical Units
Units to account for:
Beginning Wip		0
Startd in Production		22220
total Units		22220
Units accounted for:
Transferred out		20200
Ending WIP		2020
Total Units		22220
				Material	Conv. Cost	Total
Total Equivalent units		22220	21008
Unit cost				9	8	17
Cost of units transfrred out		343400
Cost of ending Wip			24644
PRODUCTION COST REPORT
			Phy. Units	Material	Conv. Cost
Units to account for:
Beginning Wip		0
Startd in Production		22220
total Units		22220
Units accounted for:
Transferred out		20200	20200	20200
Ending WIP		2020	2020	808
Total Units		22220	22220	21008
Cost				Material	Conv. Cst	Total
Total cost				199980	168064	368044
Equivlent units			22220	21008
Unit cost				9.00	8.00	17.00
Cost to be accounted for:
Cost of beginning WIP				0
Current cost incurred				368044
Total cst to be accounted for				368044
Cost Reconciliation Schedule:
Cost accounted for:
Transferred out (20200 units @17)			343400
Ending WIP
Material				18180
Conversion			6464		24644
Total cost accounted for				368044