Brief Exercise 16-09 Production costs chargeable to the Finishing Department in June in Hollins Company are materials $12,688, labor $36,742, overhead $19,600. Equivalent units of production are materials 20,800 and conversion costs 19,700. Production records indicate that 18,600 units were transferred out, and 2,200 units in ending work in process were 50% complete as to conversion costs and 100% complete as to materials. Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to o decimal places, e.g. 125.) Cost Reconciliation Cost accounted for Transferred out $ Work in process Materials Conversion costs Total cost accounted for 1. 2. Transferred out 13,100 units. Started 5,100 units that are 60% complete as to conversion costs and 100% complete as to materials at July 31. . Beginning work in process Materials Labor Manufacturing overhead $0 60,060 14,568 22,600 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Your answer is correct. Determine the equivalent units of production for (1) materials and (2) conversion costs. Materials Conversion Costs Total equivalent units of production 18200 16160 SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO VIDEO Your answer is partially correct. Try again. Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials 3.32 Conversion costs 2.3 LINK TO TEXT LINK TO VIDEO Your answer is partially correct. Try again. Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.) Cost Reconciliation Costs accounted for Transferred out 73622 Work in process, July 31 Materials 16932 Conversion costs 7038 23970 Totalrats 97592