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Ivanhoe Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into
Ivanhoe Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are added at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June are presented below.
tableProduction Data,JuneBeginning work in process units,Units started into production,Ending work in process units,Percent complete as to conversionending inventory,
Prepare a schedule showing physical units of production
Determine the equivalent units of production for materials and conversion cost
Compute the unit cost of production
Determine the cost to be assigned to the units completed and transferred out and to work in process for June
Prepare a production cost report for the Molding Department for the month of June
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