Question
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
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. Cutting Department Production DataJuly Plant 1 T12-Tables Plant 2 C10-Chairs Work in process units, July 1 0 0 Units started into production 21,000 16,800 Work in process units, July 31 3,150 525 Work in process percent complete 60 80 Cost DataJuly Work in process, July 1 $0 $0 Materials 399,000 302,400 Labor 246,120 115,500 Overhead 109,200 110,040 Total $754,320 $527,940 (a1) Your answer is correct. For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for Click if you would like to Show Work for this question: Open Show Work Show Solution Show Answer Link to Text Attempts: 1 of 3 used (a2) Your answer is correct. For each plant compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables C10 Chairs Click if you would like to Show Work for this question: Open Show Work Show Solution Show Answer Link to Text Attempts: 1 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 $ $ $ Unit costs-C10 Chairs $ $ $
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