Question
Problem 16-02A Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are
Problem 16-02A
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.
Production Data
June
Beginning work in process units0Units started into production28,160Ending work in process units2,560Percent completeending inventory40%
Cost Data
Materials$253,440Labor68,608Overhead144,384Total$466,432
Prepare a schedule showing physical units of production.
Physical units Units to be accounted forWork in process, June 1enter a number of units
Started into production enter a number of units
Total units enter a total number of units
Units accounted forTransferred out enter a number of units
Work in process, June 30enter a number of units
Total units enter a total number of units
Determine the equivalent units of production for materials and conversion costs.
Materials
Conversion Costs
Total equivalent units enter a number of units
enter a number of units
Compute the unit costs of production.
Materials
Conversion Costs
Total Unit Cost
Unit Costs$
enter a dollar amount
$
enter a dollar amount
$
enter a total amount
Determine the costs to be assigned to the units transferred out and in process for June.
Transferred out$
enter a dollar amount
Work in process, June 30$
enter a dollar amount
Pre pare 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
Quantities
Physical
Units
Materials
Conversion
Costs
Units to be accounted forWork in process, June 1enter a number of units
Started into productionenter a number of units
Total units enter a total number of units
Units accounted forTransferred out enter a number of units
enter a number of units
enter a number of units
Work in process, June 30enter a number of units
enter a number of units
enter a number of units
Total units enter a total number of units
enter a total number of units
enter a total number of units
Costs
Materials
Conversion
Costs
Total
Unit costsTotal Costs$
enter a dollar amount
$
enter a dollar amount
$
enter a total of the two previous amounts
Equivalent units enter a number of units
enter a number of units
Unit costs$
enter a dollar amount
$
enter a dollar amount
$
enter a total of the two previous amounts
Costs to be accounted forWork in process, June 1$
enter a total amount
Started into production enter a total amount
Total costs$
enter a total of the two previous amounts
Cost Reconciliation Schedule
Costs accounted forTransferred out$
enter a total amount
Work in process, June 30Materials$
enter a dollar amount
Conversion costs enter a dollar amount
enter a subtotal of the two previous amounts
Total costs$
enter a total amount for this Cost Reconciliation Schedule
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
