Exercise 21-06 a, b1-b2

The Cutting Department of Coronado Company has the following production and cost data for July.

Production

Costs

1. Transferred out 12,400 units. Beginning work in process $0

2. Started 3,400 units that are 60% Materials 56,090

complete as to conversion Labor 8,846

costs and 100% complete as Manufacturing overhead 22,200

to materials at July 31.

Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.

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Determine the equivalent units of production for (1) materials and (2) conversion costs.

Materials

Conversion Costs

Total equivalent units of production

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Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.)

Materials

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Conversion costs

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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

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Work in process, July 31

Materials

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Conversion costs

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Total costs

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