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Compute the unit costs of production. Unit Costs $ Materials Conversion Costs Total Unit Cost

Compute the unit costs of production. Unit Costs $ Materials Conversion Costs Total Unit Cost

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Compute the unit costs of production. Unit Costs Materials Conversion Costs Total Unit Cost
Transcribed Image Text:Compute the unit costs of production. Unit Costs Materials Conversion Costs Total Unit Cost
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 added 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 2022 are presented below. Production Data Beginning work in process units Units started into production Ending work in process units Percent complete as to conversion-ending inventory Cost Data Direct materials used in June Direct labor incurred in June Manufacturing overhead assigned in June Total $205,920 55,744 117,312 $378,976 June 0 22,880 2,080 40 %
Transcribed Image Text: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 added 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 2022 are presented below. Production Data Beginning work in process units Units started into production Ending work in process units Percent complete as to conversion-ending inventory Cost Data Direct materials used in June Direct labor incurred in June Manufacturing overhead assigned in June Total $205,920 55,744 117,312 $378,976 June 0 22,880 2,080 40 %
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