{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-22T19:08:23-04:00", "answer_date": "2024-06-22 19:08:23", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "3593463", "url": "\/study-help\/questions\/chen-company-manufactures-basketballs-materials-are-added-at-the-beginning-3593463", "question_creation_date_js": "2024-06-22T19:08:23-04:00", "question_creation_date": "Jun 22, 2024 07:08 PM", "meta_title": "[Solved] Chen Company manufactures basketballs. Ma | SolutionInn", "meta_description": "Answer of - Chen Company manufactures basketballs. Materials are added at the beginning of the production process and conversion c | SolutionInn", "meta_keywords": "chen,company,manufactures,basketballs,materials,added,beginning,production,process,conversion,costs,incurred", "question_title_h1": "Chen Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for", "question_title": "Chen Company manufactures basketballs. Materials are added at the beginning of the", "question_title_for_js_snippet": "Chen Company manufactures basketballs Materials are added at the beginning of the production process and conversion costs are incurred uniformly Production and cost data for the month of July 2010 are as follows Production Data Basketballs Units Percent Complete Work in process units, July 1 590 60 Units started into production 1,060 Work in process units, July 31 750 40 Cost Data Basketballs Work in process, July 1 Materials $757 Conversion costs 548 $1,305 Direct materials 2,873 Direct labor 1,727 Manufacturing overhead 1,325 Calculate the following (Round cost per unit to 2 decimal places, e g 10 50 Round other answers to 0 decimal places, e g 125 ) The equivalent units of production for materials and conversion Materials Conversion costs The unit costs of production for materials and conversion costs Unit cost Materials $ Unit cost Conversion costs $ The assignment of costs to units transferred out and in process at the end of the period Costs accounted for Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs $ Complete the production cost report for the month of July for the basketballs CHEN COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2010 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Materials Conversion Costs Total Unit costs Costs in July $ $ $ Equivalent units Unit costs $ $ Cost to be accounted for Work in process, July 1 $ Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs $", "question_description": "Chen Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2010 are as follows. Production Data-Basketballs Units Percent Complete Work in process units, July 1 590 60% Units started into production 1,060 Work in process units, July 31 750 40% Cost Data - Basketballs Work in process, July 1 Materials $757 Conversion costs 548 $1,305 Direct materials 2,873 Direct labor 1,727 Manufacturing overhead 1,325 Calculate the following. (Round cost per unit to 2 decimal places, e.g. 10.50. Round other answers to 0 decimal places, e.g. 125.) The equivalent units of production for materials and conversion. Materials Conversion costs The unit costs of production for materials and conversion costs. Unit cost-Materials $ Unit cost-Conversion costs $ The assignment of costs to units transferred out and in process at the end of the period. Costs accounted for Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs $ Complete the production cost report for the month of July for the basketballs. CHEN COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2010 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Materials Conversion Costs Total Unit costs Costs in July $ $ $ Equivalent units Unit costs $ $ Cost to be accounted for Work in process, July 1 $ Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs $", "transcribed_text": "", "related_book": { "title": "Cost Accounting Foundations and Evolutions", "isbn": "9781439044612, 1439044619, 978-1111626822", "edition": "8th Edition", "authors": "Michael R. Kinney, Cecily A. Raiborn", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/146.jpg", "uri": "\/textbooks\/cost-accounting-foundations-and-evolutions-8th-edition-146", "see_more_uri": "" }, "free_related_book": { "isbn": "0801886120", "uri": "\/textbooks\/the-ethics-of-bioethics-mapping-the-moral-landscape-1st-edition-9780801886126", "name": "The Ethics Of Bioethics Mapping The Moral Landscape", "edition": "1st Edition" }, "question_posted": "2024-06-22 19:08:23", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/1-deciding-to-accept-or-reject-an-engagement-requires-careful", "description": "1. Deciding to accept or reject an engagement requires careful consideration of the case's risks and rewards. a. True b. False 2. 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