1. Zion Co. manufactures bowling balls through two processes: Molding and Packaging. In the Molding Dept., the urethane, rubber, plastics and other materials are molded into bowling balls. In the Packaging Dept., 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 Dept. During June 2002 are presented below: Production Data June Beginning work in process units 0- Units started into production 22.000 Ending work in process units 2,000 Percent complete-ending inventory 45% Cost Data Materials $286.000 Labor 114,000 Overhead 136,800 Total $536,800 Instructions (a) Prepare a schedule showing physical units of production (b) Determine the equivalent units of production for materials and conversion costs. (c) Compute the unit costs of production, (d) Determine the costs to be assigned to the units transferred and in process for June, (e) Prepare a production cost report for the Molding Department for the month of June. 2. Process Costing and Production Cost Report Preparation Walters Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department fiberglass is heated and shaped into the form of a ski. In the Packaging Department, the skis are placed in cartons and sent to the finished goods ware- house. Materials are entered at the beginning of both processes Labor and manufacturing over head are incurred uniformly throughout each process Production and cost data for the Molding Department for January 2010 are presented below January 42 500 2.500 40% Production Data Beginning work in process units Units started into production Ending work in process units Percent complete ending inventory Cost Data Materials Labor Overhead Total S510.000 96,000 150,000 $756,000 Instructions (a) Compute the physical units of production (b) Determine the equivalent units of production for materials and conversion costs. (c) Compute the unit costs of production, (d) Determine the costs to be assigned to the units transferred out and in process (e) Prepare a production cost report for the Molding Department for the month of January