Current Attempt in Progress Ivanhoe 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 2022 are presented below. Production Data June Beginning work in process units Units started into production 0 29,480 Ending work in process units 2,700 Percent complete-ending inventory 40 % Cost Data Materials $280,060 Labor 71.800 165,010 Overhead Total $516,870 Your answer is correct. Prepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 Started into production 29480 Total units 29480 Units accounted for Transferred out 26780 Work in process, June 30 2700 Total units 29480
Current Attempt in Progress Ivanhoe 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 2022 are presented below. Production Data June Beginning work in process units Units started into production 0 29,480 Ending work in process units 2,700 Percent complete-ending inventory 40 % Cost Data Materials $280,060 Labor 71.800 165,010 Overhead Total $516,870 Your answer is correct. Prepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 Started into production 29480 Total units 29480 Units accounted for Transferred out 26780 Work in process, June 30 2700 Total units 29480
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress
Ivanhoe 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 2022 are presented below.
Production Data
June
Beginning work in process units
Units started into production
0
29,480
Ending work in process units
2,700
Percent complete-ending inventory
40
%
Cost Data
Materials
$280,060
Labor
71.800
165,010
Overhead
Total
$516,870
Your answer is correct.
Prepare a schedule showing physical units of production.
Physical units
Units to be accounted for
Work in process, June 1
Started into production
29480
Total units
29480
Units accounted for
Transferred out
26780
Work in process, June 30
2700
Total units
29480
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