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eBook Calculator Print Item Appendix: Normal and Abnormal Spoilage in Process Costing Novel Toys, Inc., manufactures plastic water guns. Each gun's left and right frames are produced in the Molding Department. The left and right frames are then transferred to the Assembly Department where the trigger mechanism is inserted and the halves are glued together. (The left and right halves together define the unit of output for the Molding Department.) In June, the Molding Department reported the following data: a. In the Molding Department, all direct materials are added at the beginning of the process. b. Beginning work in process consisted of 3,000 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, $450; and conversion costs, $138. C. Costs added to production during the month were direct materials, $950; and conversion costs, $2,174.50. d. Inspection takes place at the end of the process. Malformed units are discarded. All spoilage is considered abnormal. e. During the month, 7,000 units were started, and 8,000 good units were transferred out to Finishing. All other units finished were malformed and discarded. There were 1,000 units that remained in ending work in process, 25 percent complete Required: 1. Prepare a physical flow schedule. Novel Toys, Inc. Physical Flow Schedule Units to account for: Units, beginning work in process Units started 3,000 7,000 Total units to account for 10,000 Previous Next Check My Work 1 more Check My Work uses remaining, All work saved Save and Exit Submit Assignment for Grading eBook Calculator Print Item Novel Toys, Inc. Physical Flow Schedule Units to account for: Units, beginning work in process Units started 3,000 V 7,000 10,000 Total units to account for Units accounted for: Units transferred out Units spoiled Units, ending work in process 8,000 1,000 1,000 Total units accounted for 10,000 Feedback Check My Work 1. The physical flow schedule traces the units in process regardless of their stage of completion. 2. Calculate equivalent units of production using the weighted average method. Equivalent Units Direct Materials 10,000 Check My Work 1 more Check My Work uses remaining Previous Next > signmenttitain doinvokere&take AssignmentSessionLocator-inprogress=false - Minbox (2,238) jo... VitalSource Books N Northridge Por. N EY Center for Car Cengage lopin Member Login eBook Calculator Print Item 2. Calculate equivalent units of production using the weighted average method. Equivalent Units Direct Materials 10,000 Conversion Costs 9,250 3. Calculate the unit cost. Round your answer to the nearest cent. 0.39 per unit 4. What is the cost of goods transferred out? 3,120 What is the ending work in process? Round your answer to the nearest cent. 97.5 x What is the loss due to spoilage? 390 Feedback Check My Work 2. To calculate equivalent units, weighted average counts prior period output in BWIP as belonging to the current period. All units are output in the current period. 3. The unit cost is obtained by dividing the sum of the costs in BWIP and the current-period costs by the weighted average equivalent output