Problem 16-3A (Part Level Submission) Having issues with B
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. (a2) Your answer is correct. For each plant compute equivalent units of production for materials and for conversion costs. Cutting Department Plant 1 Plant 2 T12-Tables C10-Chairs 0 0 Materials Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete Conversion Costs 20304 17,280 21,600 3,240 T12 Tables 21600 540 80 17280 17172 60 C10 Chairs Click if you would like to Show Work for this question: Open Show Work $0 $0 SHOW SOLUTION Cost Data-July Work in process, July 1 Materials Labor Overhead Total SHOW ANSWER 410,400 253,152 112,320 $775,872 311,040 118,800 113,184 $543,024 LINK TO TEXT Attempts: 1 of 3 used (al) (a3) Your answer is correct. For each plant compute the physical units of production. Your answer is correct. T12 Tables C10 Chairs For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 5.25.) Units to be accounted for 21600 17280 Materials Click if you would like to Show Work for this question: Total Costs Conversion Costs Open Show Work $ $ Unit costs-T12 Tables 19 18 37 SHOW SOLUTION $ SHOW ANSWER Unit costs-C10 Chairs 18 13.5 31.5 LINK TO TEXT Click if you would like to Show Work for this question: Open Show Work Attempts: 2 of 3 used SHOW SOLUTION SHOW ANSWER SHOW SOLUTION LINK TO TEXT SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used Attempts: 1 of 3 used (24) (b) Your answer is correct. Prepare the production cost report for Plant 1 for July 2017. For each plant show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: THAKIN INDUSTRIES INC. Cutting Department Plant 1 Production Cost Report For the Month Ended July 31, 2017 Equivalent Units Physical Conversion Units Materials Costs Transferred out 679320 Work in process Quantities Units to be accounted for Materials 61560 Work in process, July 1 Conversion costs 34992 96552 Started into production Total costs 775872 Total units C10 Chairs Costs accounted for: Units accounted for Transferred out Transferred out 527310 Work in process Work in process, July 31 Materials 9720 Total units Conversion costs 5832 15552 Conversion Costs Materials Total Total costs 542862 Click if you would like to show Work for this question:Open Show Work Costs Unit costs Total Costs $ $ Equivalent units 1.ll $ Unit costs Costs to be accounted for Work in process, July 1 Started into production ITI $ Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 $ Materials Conversion costs $ Total costs
