Rosenthal 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 2017 are presented below.Production Data JuneBeginning work in process units 0 Units started into production 27,720 Ending work in process units 2,520 Percent complete—ending inventory 40%Cost Data Materials $249,480Labor 67,536Overhead 142,128 Total $459,144 Prepare a schedule showing physical units of production.Physical units Units to be accounted for Work in process, June 1 Started into production Total units Units accounted for Transferred out Work in process, June 30 Total units eTextbook and Media Determine the equivalent units of production for materials and conversion costs. Materials Conversion CostsTotal equivalent units eTextbook and Media Compute the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Total Unit CostUnit Costs $ $ $ eTextbook and Media Determine the costs to be assigned to the units transferred and in process for June.Transferred out $ Work in process, June 30 $ eTextbook and Media Prepare a production cost report for the Molding Department for the month of June.ROSENTHAL COMPANYMolding DepartmentProduction Cost ReportFor the Month Ended June 30, 2017 Equivalent Units Quantities PhysicalUnits Materials ConversionCosts Units to be accounted for Work in process, June 1 Started into production Total units Units accounted for Transferred out Work in process, June 30 Total units Costs Materials ConversionCosts TotalUnit costs Total Costs $ $ $ Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, June 1 $ Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, June 30 Materials $ Conversion costs Total costs

Name: Rosenthal Company manufactures bowling balls through two processes: Mo
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Rosenthal 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

Answered: Rosenthal Company manufactures bowling…

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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eTextbook and Media

Determine the equivalent units of production for materials and conversion costs.

		Materials		Conversion Costs
Total equivalent units

eTextbook and Media

Compute the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.)

		Materials		Conversion Costs		Total Unit Cost
Unit Costs		$		$		$

eTextbook and Media

Determine the costs to be assigned to the units transferred and in process for June.

Transferred out		$
Work in process, June 30		$

eTextbook and Media

Prepare a production cost report for the Molding Department for the month of June.

ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2017
		Equivalent Units
Quantities	Physical Units	Materials	Conversion Costs
Units to be accounted for
Work in process, June 1
Started into production
Total units

Units accounted for
Transferred out
Work in process, June 30
Total units

Costs		Materials	Conversion Costs	Total
Unit costs
Total Costs		$	$	$
Equivalent units
Unit costs		$	$	$

Costs to be accounted for
Work in process, June 1				$
Started into production
Total costs				$

Cost Reconciliation Schedule
Costs accounted for
Transferred out				$
Work in process, June 30
Materials			$
Conversion costs
Total costs

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The equivalent units are calculated on the basis of percentage of the work completed during the period.

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Production Data	June
Beginning work in process units	0
Units started into production	27,720
Ending work in process units	2,520
Percent complete—ending inventory	40	%

Cost Data
Materials		$249,480
Labor		67,536
Overhead		142,128
Total		$459,144

Physical units
Units to be accounted for
Work in process, June 1
Started into production
Total units

Units accounted for
Transferred out
Work in process, June 30
Total units