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Oriole Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into
Oriole 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 2022 are presented below. Production Data Beginning work in process units Units started into production June 0 24,200 Ending work in process units 2,200 Percent complete as to conversion-ending inventory 40% Cost Data Direct materials used in June $217,800 Direct labor incurred in June 58,960 Manufacturing overhead assigned in June 124,080 Total $400,840 Prepare a schedule showing physical units of production. Physical units Units to be accounted for Prepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 Started into production Total units Units accounted for Completed and transferred out Units accounted for Completed and transferred out Work in process, June 30 Total units eTextbook and Media Determine the equivalent units of production for materials and conversion costs. Determine the equivalent units of production for materials and conversion costs. Total equivalent units eTextbook and Media Materials Compute the unit costs of production. Conversion Costs Materials Conversion Costs Total Unit Cost Unit Costs $ Determine the costs to be assigned to the units completed and transferred out and to work in process for June. Transferred out Work in process, June 30 eTextbook and Media Prepare a production cost report for the Molding Department for the month of June. Quantities Units to be accounted for Work in process, June 1 Started into production Physical ORIOLE COMPANY Molding Department Production Cost Report Units Materials Equivalent Units Conversion Costs process, June 1 Started into production Total units Units accounted for Completed and transferred out Work in process, June 30 Work in process, June 30 Total units Costs Unit costs Total Costs Equivalent units Unit costs Conversion Materials Costs $ $ $ Materials Conversion Costs $ A Total Cost Reconciliation Schedule Costs to be accounted for Work in process, June 1 Started into production Total costs Costs accounted for Costs accounted for Completed and transferred out Workin process, June 30 Materials Conversion costs Total costs S
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