P/7-2. Complete our steps necesary to prepare a production cost report Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, plastic and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finishell goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniforly throughout each process. Production and cost data for the Molding Department during June 2017 are presented below. June Production Data Beginning work in process units Units started into production Ending work in process units Percent complete-ending inventory 22.000 2.000 40% Cost Data Materials Labor Overhead $198.000 $53,600 $112.800 $364,400 Total cost (b) Instructions (a) Prepare a schedule showing physical units of production. Determine the equivalent units of production for materials and conversion costs. lic) Compute the unit costs of production. (d) Determine the costs to be assigned to the units transferred out and in process for Jung. Le Prepare a production cost report for the Molding Department for the month of June. NOTE Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?", (a) Prepare a schedule showing physical units of production. Units to be accounted for Work in process, June 1 Units started into production Total units Physical Units Value Value Units accounted for Units transferred out Work in process, September 30 Total units Value Value (b) Determine the equivalent units of production for materials and conversion costs. Conversion Costs Materials Value Value Equivalent units Transferred out Work in process, September 30 No. of units times No. of units times Total units Value 0% 0% (b) Determine the equivalent units of production for materials and conversion costs. Conversion Costs Materials Value Value Equivalent units Transferred out Work in process, September 30 No. of units times No. of units times Total units 0% Value (c) Compute the unit costs of production Materials Conversion Costs Total Unit costs Work in Process Sept manufacturing costs Total cost Equivalent units Unit costs Value Value Value Value Value Value Value Value Value (d) Determine the costs to be assigned to the units transferred out and in process for June. Materials Conversion Costs Total Cost of Units Transferred Out, Sept. Units Transferred out Unit costs Total Cost Value Value Value Value 1 Cost of Work in Process, Sept. 30 Units in Work in Process Unit costs (a) (b) Total Cost Value Value Value Value Total Cost - Check number Le p are a production contreport for the Molding Department for the month of June ROSENTHAL COMPANY Mogpartment Production Cost Report For the Month Ended June 2017 Er Physical Mais N ed for Work in process, June Started production Total units Liceni Transferred out Work in process, June 30 U Costo do Work in process, une Started into production Total Cet Reconciliation Schedule Total Units Unit Cost Value Value Costs accounted for Transferred out Work in process, June 1 Costs or complete work in process Conversion costs Units started and completed Total costs transferred out Work in process, June 30 Materials (2,000 X $9.00). Conversion costs (800 X $8.00) Total costs Value Value Value Value Value Value Value Value
