Problem 3-3A (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 Data?July		Plant 1	Plant 2
T12-Tables	C10-Chairs
Work in process units, July 1		0	0
Units started into production		21,400	17,120
Work in process units, July 31		3,210	535
Work in process percent complete		60	80
Cost Data?July
Work in process, July 1		$0	$0
Materials		406,600	308,160
Labor		250,808	117,700
Overhead		111,280	112,136
Total		$768,688	$537,996
(a1)
For each plant compute the physical units of production.
		T12 Tables	C10 Chairs
Units to be accounted for
21,400	17,120
(a2)
For each plant compute equivalent units of production for materials and for conversion costs.
		Materials	Conversion Costs
T12 Tables
C10 Chairs
(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		$	$		$
(a4)
For each plant show the assignment of costs to units transferred out and in process.
T12 Tables
Costs accounted for:
Transferred out		$
Work in process
Materials	$
Conversion costs
Total costs		$
C10 Chairs
Costs accounted for:
Transferred out		$
Work in process
Materials	$
Conversion costs
Total costs		$
(b)
Prepare the production cost report for Plant 1 for July 2017.
THAKIN INDUSTRIES INC.
Cutting Department?Plant 1
Production Cost Report
For the Month Ended July 31, 2017
			Equivalent Units
Quantities		Physical			Conversion
Units	Materials	Costs
Units to be accounted for
Work in process, July 1
Started into production
Total units
Units accounted for
Transferred out
Work in process, July 31
Total units
					Conversion
Costs	Materials	Costs	Total
Unit costs
Total Costs			$		$		$
Equivalent units
Unit costs			$		$		$
Costs to be accounted for
Work in process, July 1							$
Started into production
Total costs							$
Cost Reconciliation Schedule
Costs accounted for
Transferred out							$
Work in process, July 31
Materials					$
Conversion costs
Total costs							$
Problem 3-5A (Part Level Submission)
Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2017 are as follows.
			Percent
Production Data?Basketballs	Units	Complete
Work in process units, July 1			460		60	%
Units started into production			1,150
Work in process units, July 31			580		40	%
Cost Data?Basketballs
Work in process, July 1
Materials		$800
Conversion costs		600	$1,400
Direct materials			2,150
Direct labor			2,090
Manufacturing overhead			1,450
(a1)
Calculate the equivalent units of production for materials and conversion costs.
		Materials	Conversion Costs
Equivalent Units
(a2)
Calculate the unit costs of production for materials and conversion costs.(Round unit costs to 3 decimal places, e.g. 2.257.)
		Materials	Conversion Costs
Cost per unit		$	$
(a3)
Calculate the assignment of costs to units transferred out and in process at the end of the accounting period.(Round answers to 0 decimal places, e.g. 2,250.)
Costs accounted for:
Transferred out		$
Work in process, July 31
Materials	$
Conversion costs
Total costs		$
(b)
Prepare a production cost report for the month of July for the basketballs.(Round unit costs to 3 decimal places, e.g. 2.257 and all other answers to 0 decimal places, e.g. 2,250.)
POLK COMPANY
Basketball Department
Production Cost Report
For the Month Ended July 31, 2017
			Equivalent Units
Quantities		Physical			Conversion
Units	Materials	Costs
Units to be accounted for
Work in process, July 1
Started into production
Total units
Units accounted for
Transferred out
Work in process, July 31
Total units
					Conversion
Costs	Materials	Costs	Total
Unit costs
Costs in July			$		$		$
Equivalent units
Unit costs			$		$		$
Costs to be accounted for
Work in process, July 1							$
Started into production
Total costs							$
Cost Reconciliation Schedule
Costs accounted for
Transferred out							$
Work in process, July 31
Materials					$
Conversion costs
Total costs							$

Problem 3-3A (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process beginning, and conversion costs are incurred uniformly. Production and cost data for the fi two different manufacturing plants are as follows. Cutting Department Plant 1 Production DataJuly T12-Tables Work in process units, July 1 0 Units started into production 21,400 Work in process units, July 31 3,210 Work in process percent complete 60 Cost DataJuly Work in process, July 1 $0 Materials 406,600 Labor 250,808 Overhead 111,280 Total $768,688 (a1) For each plant compute the physical units of production. T12 Tables Units to be accounted for 21,400 (a2) For each plant compute equivalent units of production for materials and for conversion co Materials T12 Tables C10 Chairs (a3) For each plant determine the unit costs of production. (Round unit costs to 2 decimal Materials Unit costs-T12 Tables $ Unit costs-C10 Chairs $ (a4) For each plant show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out $ Work in process Materials $ Conversion costs Total costs $ C10 Chairs Costs accounted for: Transferred out $ Work in process Materials $ Conversion costs Total costs $ (b) Prepare the production cost report for Plant 1 for July 2017. THAKIN INDUSTRIES INC. Cutting DepartmentPlant 1 Production Cost Report For the Month Ended July 31, 2017 Physical Quantities Units Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Unit costs Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, July 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs Problem 3-5A (Part Level Submission) Polk Company manufactures basketballs. Materials are added at the beginning of the prod are incurred uniformly. Production and cost data for the month of July 2017 are as follows. Production DataBasketballs Work in process units, July 1 Units started into production Work in process units, July 31 Cost DataBasketballs Work in process, July 1 Materials Conversion costs $800 600 Direct materials Direct labor Manufacturing overhead (a1) Calculate the equivalent units of production for materials and conversion costs. Materials Equivalent Units (a2) Calculate the unit costs of production for materials and conversion costs. (Round unit co 2.257.) Materials Cost per unit $ (a3) Calculate the assignment of costs to units transferred out and in process at the end of the to 0 decimal places, e.g. 2,250.) Costs accounted for: Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs $ (b) Prepare a production cost report for the month of July for the basketballs. (Round unit co 2.257 and all other answers to 0 decimal places, e.g. 2,250.) POLK COMPANY Basketball Department Production Cost Report For the Month Ended July 31, 2017 Physical Quantities Quantities Units Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Unit costs Costs in July Equivalent units Unit costs Costs to be accounted for Work in process, July 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs arate processes. In each process, materials are entered at the roduction and cost data for the first process in making two products in Cutting Department Plant 2 C10-Chairs 0 17,120 535 80 $0 308,160 117,700 112,136 $537,996 C10 Chairs 17,120 materials and for conversion costs. Conversion Costs ound unit costs to 2 decimal places, e.g. 5.25.) Conversion Costs Total Costs $ $ $ $ sferred out and in process. 7. N INDUSTRIES INC. DepartmentPlant 1 ction Cost Report nth Ended July 31, 2017 Equivalent Units Conversi on Materials Costs Conversi on Materials Costs Total $ $ $ $ $ $ $ $ $ $ $ ded at the beginning of the production process and conversion costs onth of July 2017 are as follows. Percent Units Complete 460 60 % 1,150 580 $1,400 2,150 2,090 1,450 and conversion costs. Conversion Costs 40 % onversion costs. (Round unit costs to 3 decimal places, e.g. Conversion Costs $ and in process at the end of the accounting period. (Round answers the basketballs. (Round unit costs to 3 decimal places, e.g. g. 2,250.) OLK COMPANY tball Department ction Cost Report nth Ended July 31, 2017 Equivalent Units Conversi on Materials Costs Conversi on Materials Costs Total $ $ $ $ $ $ $ $ $ $ $