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 it 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. Production Data June Beginning work in process units Units started into production 24,420 Ending work in process units 2,220 Percent complete-ending inventory 40 % Cost Data Materials $219,780 Labor 59.496 Overhead 125,208 Total $404,484 Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalent units 24420 222888 eTextbook and Media Compute the unit costs of production. Materials Conversion Costs Total Unit Cost
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 it 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. Production Data June Beginning work in process units Units started into production 24,420 Ending work in process units 2,220 Percent complete-ending inventory 40 % Cost Data Materials $219,780 Labor 59.496 Overhead 125,208 Total $404,484 Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalent units 24420 222888 eTextbook and Media Compute the unit costs of production. Materials Conversion Costs Total Unit Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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 2020 are presented below.
Production Data
June
Beginning work in process units
Units started into production
24,420
Ending work in process units
2,220
Percent complete-ending inventory
40 %
Cost Data
Materials
$219,780
Labor
59,496
Overhead
125,208
Total
$404,484
Determine the equivalent units of production for materials and conversion costs.
Materials
Conversion Costs
Total equivalent units
24420
222888
eTextbook and Media
Compute the unit costs of production.
Materials
Conversion Costs
Total Unit Cost
Unit Costs
2$
2$
1.2
2$
10
eTextbook and Media
Determine the costs to be assigned to the units transferred out and in process for June.
Transferred out
$
Work in process, June 30
24
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