Problem 4-47A

Jessica Company manufactures hockey pucks and soccer balls. For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Jessica uses the FIFO method to calculate equivalent units. Production and cost data for the month of August are as follows:

Production DataHockey pucks		Units		Percent Complete
Work in process units, August 1		450		70%
Units started into production		1,560
Work in process units, August 31		580		30%
Cost DataHockey pucks
Work in process, August 1		$1,150
Direct materials		1,560
Direct labour		1,100
Manufacturing overhead		962
Production DataSoccer balls
Work in process units, August 1		400		90%
Units started into production		2,150
Work in process units, August 31		200		60%
Cost DataSoccer balls
Work in process, August 1		$400
Direct materials		3,440
Direct labour		1,040
Manufacturing overhead		1,492

Calculate the following for both the hockey pucks and the soccer balls: (Round answers to the nearest whole dollar, e.g. 5,275. Round per unit costs to the 3 decimal places, e.g. 15.253.) 1. The equivalent units of production for materials and conversion costs.

		Hockey pucks		Soccer balls
Materials
Conversion Cost

2. The unit costs of production for materials and conversion costs.

		Hockey pucks		Soccer balls
Materials		$		$
Conversion Cost		$		$

3. The assignment of costs to units transferred out and to work in process at the end of the accounting period.

		Hockey pucks		Soccer balls
Beginning WIP		$		$
Complete beginning WIP		$		$
Started and completed		$		$
Ending WIP		$		$

Prepare a production cost report for the month of August for the hockey pucks only. (Round unit cost to 3 decimal places, e.g. 15.251 and other answers to to the nearest whole dollar, e.g. 5,275.)

JESSICA COMPANY Production Cost ReportHockey pucks For the Month Ended August 31
				Equivalent Units
Quantities		Physical Units			Materials		Conversion Costs
Units to be accounted for
	Work in process, August 1
	Started into production
	Total units
Units accounted for
	Completed and transferred out
	Work in process, August 1
	Started and completed
	Work in process, August 31
	Total units
Costs
Unit costs
	Costs in August				$		$
	Equivalent units
	Unit costs				$		$
Costs to be accounted for
	Work in process, August 1						$
	Added into production
	Total costs						$