production cost report for the Molding Department for the month of June.
Pharoah 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 added 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 2022 are presented below. Production Data June Beginning work in process units 0 Units started into production 19.800 Ending work in process units 1,800 Percent complete as to conversion-ending inventory 40% Cost Data Direct materials used in June $ 178,200 Direct labor incurred in June 48,240 Manufacturing overhead assigned in June 101,520 Total $ 327,960 (a) Your answer is correct. Prepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 Started into production 19,800 Total units 19,800 Units accounted for Completed and transferred out 18,000 Work in process, June 30 1,800 Total units 19,800Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalent units 19,800 18.720 eTextbook and Media Attempts: 1 of 5 used Your answer is correct. Compute the unit costs of production. Materials Conversion Costs Total Unit Cost Unit Costs $ 9 8 17 eTextbook and Media Attempts: 2 of 5 used Your answer is correct. Determine the costs to be assigned to the units completed and transferred out and to work in process for June. Transferred out $ 306000 Work in process, June 30 $ 21960Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, June Started into production Total units Units accounted for Completed and transferred out Work in process, June Total units Conversion Costs Materials Costs Unit costs Total Costs Equivalent units Unit costs S Cost Reconciliation Schedule Costs to be accounted for Work in process, June 1 Started into production Total costs $[ Casts accounted for Completed and S transferred out Work in process, June Materials Conversion costs S Total costs