Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help with all 5 parts Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics,
Please help with all 5 parts
Rosenthal 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 entered 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 2020 are presented below. June 0 Production Data Beginning work in process units Units started into production Ending work in process units Percent complete-ending inventory 27,720 2,520 40 % Cost Data Materials Labor Overhead Total $249,480 67,536 142,128 $459,144 (a) co 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 Transferred out Work in process, June 30 Total units (b) Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalent units (c) Compute the unit costs of production. Materials Conversion Costs Total Unit Cost Unit Costs $ $ (d) Determine the costs to be assigned to the units transferred out and in process for June. Transferred out Work in process, June 30 (e) Prepare a production cost report for the Molding Department for the month of June. ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2020 Equivalent Units Conversion Materials Costs Physical Units Quantities Units to be accounted for Work in process, June 1 Started into production Total units Units accounted for Transferred out Work in process, June 30 Total units Conversion Costs Costs Materials Tot Unit costs Total Costs $ $ $ Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, June 1 Started into production $ Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, June 30 $ Materials $ Conversion costs Total costs $ Total $ $ $ $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started