Question 2 The polishing department of Lacroix Manufacturing Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory of 2,500 units that are 100% complete in terms of materials and 30% complete in terms of conversion costs; units started during the period are 11,700; ending inventory of 3,500 units are 10% complete in terms of conversion costs. Manufacturing costs: Beginning inventory costs, comprising $24,800 of materials and $27,800 of conversion costs; materials costs added in polishing during the month, $127,850; labour and overhead applied in polishing during the month, $106,000 and $254,055, respectively. (a) x Your answer is incorrect. Try again. Calculate the equivalent units of production for materials and conversion costs for the month of September. Materials Conversion Costs Equivalent units of production 14100 11040 Question 3 The cutting department of Groneman Manufacturing has the following production and cost data for July. Production 1. Transferred out 12,000 units. 2. Started 3,200 units that are 60% complete in terms of conversion costs and 100% complete in terms of materials at July 31. Costs Beginning work in process Materials Labour Manufacturing overhead $0 41,040 15,500 16,516 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. (a) Your answer is partially correct. Try again. Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs X 15200 31200 Total equivalent units SHOW SOLUTION LINK TO TEXT LINK TO TEXT (b) Calculate unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 15.25.) Unit costs Materials Conversion costs $ Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs Total costs LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. The welding department of Balogh Manufacturing Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Manufacturing Costs Production Data Beginning work in process Beginning work in process 16,000 units Materials $17,880 1/10 complete Conversion costs 14,380 $32,260 Units transferred out 49,500 Materials 168,740 Units started 44,200 Labour 52,080 Ending work in process 10,700 units Overhead 83,296 1/5 complete Prepare a production cost report for the welding department for the month of February. (Round unit costs to 2 decimal places, e.g. 15.25.) BALOGH MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended February 29, 2020 Equivalent Units Physical Conversion Quantities Units Materials Costs Total Units to be accounted for Work in process, February 1 16000 Started into production 44200 Total units 60200 Units accounted for Transferred out 49500 49500 49500 Work in process, February 29 10700 10700 21400 Total units 60200 60200 70900 Costs Unit costs Costs in February 186620 149756 336376 Equivalent units AMI 60200 70900 Unit costs 3.1 2.11 5.21 Costs to be accounted for Work in process, February 1 32260 Started into production 306821 Total costs 339081 Cost Reconciliation Schedule Costs accounted for Transferred out 257895 Work in process, February 29 Materials 33170 Conversion costs 45154 78324 Total costs 339081 LINK TO TEXT LINK TO TEXT Hi-Tech Mortgage Company uses a process costing system to accumulate costs in its loan application department. When an application is completed, it is forwarded to the loan department for final processing. The following processing and cost data pertain to September: 1. $1,160 4,170 2. Applications in process on September 1, 80 Applications started in September, 1,170 Completed applications during September, 850 Applications still in process at September 30 were 100% complete in terms of materials (forms) and 60% complete in terms of conversion costs. Beginning work in process: Direct materials Conversion costs September costs: Direct materials Direct labour Overhead 3. $5,090 11,150 15,200 4. Materials are the forms used in the application process, and these costs are incurred at the beginning of the process. Conversion costs are incurred uniformly during the process. (a) Determine the equivalent units of service (production) for materials and conversion costs. Conversion Costs Materials Total equivalent units LINK TO TEXT LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER (b) Question Kasten Company manufactures bowing balls through two processes: moulding and packaging. In the moulding department, urethane, rubber, plastic, and other materials are moulded into bowling balls. In the packaging department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labour and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the moulding department during June 2020 are presented below: Production Data June Beginning work in process units Units started into production 21,800 Ending work in process units 2,400 Percent completanding inventory % 35% Cost Data Material $194,020 $ Labour 60,050 Overhead 109,056 2.2.3 Total $364,036 Your answer is correct. Prepare a schedule showing physical units of production Units to be accounted for Work in process, June 1 0 Started into production 21800 Total units 21800 Units accounted for Transferred out 19400 Work in process, June 30 2400 Total units 21800 LINK TO TEXT LINK TO TEXT Your answer is correct. Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Units transferred out 19400 19400 Work in process, June 30 2400 840 Total equivalent units V 21800 20240 SHOW SOLUTION LINK TO TEXT LINK TO TEXT (c) Your answer is incorrect. Try again. Calculate the unit costs of production (Round answer to 2 decimal places, e.g. 15.25.) Unit Costs Materials 8.08 Conversion costs 23.00 Total unit cost 31.13 LINK TO TEXT LINE TO TEXT The parts of this question must be completed in order. This part will be available when you complete the part above The parts of this question must be completed in order. This part will be available when you complete the part above