Question
If the average sales price per sprinkler unit did not increase when the company began mass-producing the special-order sprinkler, what would be the effect on
If the average sales price per sprinkler unit did not increase when the company began mass-producing the special-order sprinkler, what would be the effect on the company?
| Production DataBicycles | Units | Percent Complete | |||
| Work in process units, March 1 | 190 | 80 | % | ||
| Units started into production | 1,330 | ||||
| Work in process units, March 31 | 310 | 40 | % | ||
| Cost DataBicycles | Units | Percent Complete | ||
| Work in process units, March 1 | $19,350 | |||
| Direct materials | 49,930 | |||
| Direct labor | 25,140 | |||
| Manufacturing overhead | 30,000 |
| Production DataTricycles | Units | Percent Complete | |||
| Work in process units, March 1 | 1,300 | 75 | % | ||
| Units started into production | 800 | ||||
| Work in process units, March 31 | 60 | 25 | % | ||
| Cost DataTricycles | Units | Percent Complete | ||
| Work in process units, March 1 | $6,270 | |||
| Direct materials | 30,260 | |||
| Direct labor | 15,350 | |||
| Manufacturing overhead | 19,730 |
|
Calculate the following for both the bicycles and the tricycles. (1) The equivalent units of production for materials and conversion costs.
| Materials | Conversion Costs | |||
| Equivalent Units of bicycles | ||||
| Equivalent Units of tricycles |
(2) The unit costs of production for materials and conversion costs. (Round unit costs to 3 decimal places, e.g. 25.215.)
| Materials | Conversion Costs | |||
| Unit costs of bicycles | ||||
| Unit costs of tricycles |
(3) The assignment of costs to units transferred out and in process at the end of the accounting period. (Round answers to 0 decimal places, e.g. 2,520.) Bicycles
| Costs accounted for: | ||
| Transferred out | $ | |
| Work in process, March 1 | ||
| Materials | $ | |
| Conversion costs | ||
| Total costs | $ |
Tricycles
| Costs accounted for: | ||
| Transferred out | $ | |
| Work in process, March 1 | ||
| Materials | $ | |
| Conversion costs | ||
| Total costs | $ |
Prepare a production cost report for the month of March for the bicycles only. (Round unit costs to 3 decimal places, e.g. 25.123 and all other answers to 0 decimal places, e.g. 2,520.)
Prepare a production cost report for the month of March for the bicycles only. (Round unit costs to 3 decimal places, e.g. 25.123 and all other answers to 0 decimal places, e.g. 2,520.)
| RONDELI COMPANY Production Cost ReportBicycles For the Month Ended March 31 | ||||||
| Equivalent Units | ||||||
| Quantities | Physical Units | Materials | Conversion Costs | |||
| Units to be accounted for | ||||||
| Work in process, March 1 | ||||||
| Started into production | ||||||
| Total units | ||||||
|
| ||||||
| Units accounted for | ||||||
| Completed and transferred out | ||||||
| Work in process, March 1 | ||||||
| Started and completed | ||||||
| Work in process, March 31 | ||||||
| Total units | ||||||
|
| ||||||
| Costs | Materials | Conversion Costs | Total | |||
| Unit costs | ||||||
| Costs in March | $ | $ | $ | |||
| Equivalent units | ||||||
| Unit costs | $ | $ | $ | |||
|
| ||||||
| Costs to be accounted for | ||||||
| Work in process, March 1 | $ | |||||
| Started into production | ||||||
| Total costs | $ | |||||
|
| ||||||
| Cost Reconciliation Schedule | ||||||
| Costs accounted for | ||||||
| Transferred out | ||||||
| Work in process, March 1 | $ | |||||
| Conversion costs to complete beginning inventory | ||||||
| Started and completed | $ | |||||
| Work in process, March 31 | ||||||
| Materials | $ | |||||
| Conversion costs | ||||||
| Total costs | $ | |||||
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