Atkins Corporation manufactures in separate processes refrigerators and freezers for homes. In each process, materials are entered at the beginning and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows.

Instructions:

(a) For each plant:
(1) Compute the physical units of production.
(2) Compute equivalent units of production for materials and for conversion costs.
(3) Determine the unit costs of production.
(4) Show the assignment of costs to units transferred out and in process.

(b) Prepare the production cost report for Plant A for June 2010.

Transcribed Image Text:

Production Data-June Work in process units, June 1 Units started into production Work in process units, June 30 Work in process percent complete Cost Data-June Stamping Department Plant A R12 Refrigerators -0- 20,000 4,000 75 Plant B F24 Freezers -0- 18,000 2,500 60 Work in process, June 1 Materials Labor Overhead Total $ -0- -0- 840,000 684,000 245,000 251,000 420,000 191,000 $1,505,000 $1,126,000