Print by: Erica Burkett AC202:AC202DLU1A2020 Principles of Managerial Account in / AC202 - Chapter 16 Assignment *Problem 16-3A (Part Level Submission) Thakin Industries Inc, manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows. Plant 1 T12-Tables Plant 2 C10-Chairs Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 0 20,600 3,090 60 0 16,480 515 80 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 391,400 241,432 107,120 $739,952 $0 296,640 113,300 107,944 $517,884 *(a1) For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for 20600 16480 Attempts: 0 of 3 used *(a2) The parts of this question must be completed in order. This part will be available when you complete the part above. *(a3) The parts of this question must be completed in order. This part will be available when you complete the part above. *(4) Print by: Erica Burkett AC202:AC202DLU1A2020 Principles of Managerial Account in / AC202 - Chapter 16 Assignment * Problem 16-3A (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows. Plant 1 T12-Tables Plant 2 C10-Chairs 0 Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 20,600 3,090 0 16,480 515 80 20,600 3 16,480 B15 60 23,690 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 391,400 241,432 107,120 $739,952 $0 296,640 113,300 107,944 $517,884 *(a1) Your answer is correct. For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for 20600 16480 Attempts: 1 of 3 used *(a) For each plant compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs Tables 16 T12 Tables 20600 19364 (241,432 f107, 20) = 20000 16377 (113,300 + 107944 1648 = 1 C10 Chairs 16480 12,360 20,600 X 60% 20, 600 x 100% Attempts: 2 of 3 used *(a3) For each plant determine the unit costs of production (Round unit costs to 2 decimal places, e.g. 5.25.) Materials Conversion Costs Total Costs Unit costs-T12 Tables 19.00 $ Unit costs-C10 Chairs 13.51 18.00 31.51 $ $ $ $ 19.00 $ 37.00 Attempts: 0 of 3 used *(14) The parts of this question must be completed in order. This part will be available when you complete the part above *(b) The parts of this question must be completed in order. This part will be available when you complete the part above. Chains Table Materals 311,400 - 20,600 2' 14. (18. 29., 140 + 16,42 Conesian (18.0) Tabes - $91, 432 + 107, bol = 19,364 13.51 chains (113,3000 + 107,949) 16,377 (1) 241,432 + 107, 120 - 343, 583 (B) 1'3300 + 107,944 - 231244 Your answer is correct. For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 5.25.) Materials Conversion Costs Total Costs Unit costs-T12 Tables 19.00 18.00 s 37.00 Unit costs-C10 Chairs $18.00 13.51 31.51 Attempts: 2 of 3 used *(4) For each plant show the assignment of costs to units transferred out and in process. Costs accounted for: Transferred out Work in process Materials 3,090 X 37,0 = 11.4, 114.330 55 3.090 X 18 11 Conversion costs S5 GO 164950 Total costs 169950 Costs accounted for: Transferred out Work in process 515 +31.51 - 16,25 515 + 13.51 = 6,90 Materials [6227.65 Conversion costs 695765 23135.30 Total costs 231os. 30 Attempts: 0 of 3 used