Part (e) was not answered previously. Steiner Corporation manufactures water skis through two processes: Molding and Packaging. In the Molding Department, fiberglass is heated and shaped into the form of a ski. In the Packaging Department, the skis are placed in cartons and sent to the finished goods warehouse. Materials are entered at the beginning of both processes. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department for January 2017 are presented below.

Production Data	January
Beginning work in process units	0
Units started into production	50,000
Ending work in process units	2,500
Percent complete - ending inventory	40%
Cost Data	January
Materials	$510,000
Labor	92,500
Overhead	150,000
Total	$752,000

Instructions

(a) Compute the physical units of production.

(b) Determine the equivalent units of production for materials and conversion costs.

(c) Compute the unit costs of production.

(d) Determine the costs to be assigned to the units transferred out and in process.

(e) Prepare a production cost report for the Molding Department for the month of January.

(a)	Physical Units:
	Units to be accounted for:
	Total Units
	Units accounted for:
	Total Units

(b)	Equivalent Units:
		Materials	Conversion Costs
	Work in Process Jan 31
	Total Equivalent Units

(c)		Unit Costs

(d)	Costs accounted for:
	Work in process, Jan 31:
	Total costs

(e)

STEINER CORPORATION

Molding Department

Production Cost Report

For the Month Ended January 31, 2017

		Equivalent Units
Quantities	Physical Units	Materials	Conversion Costs
Units to be accounted for:	(Step 1)	(Step 2)
Work in process, Jan 1	0
Total units
Units accounted for:
Total units

		Equivalent Units
Costs	Physical Units	Materials	Conversion Costs	Total
Units costs:
	(a)
	(b)
Unit costs (a) / (b)
Costs to be accounted for:
Work in process, Jan 1				0
Total costs

Costs Reconciliation Schedule (Step 4)
Costs to be accounted for:
Total costs