Question 3 Rosenthal 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 entered 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 2017 are presented below. Production Data June Beginning work in process units Units started into production 29,480 Ending work in process units 2,680 Percent complete-ending inventory 40 % Cost Data Materials $265,320 Labor 71,824 Overhead 151,152 Total $488,296 Prepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 Started into production Total units Units accounted for Transferred out Work in process, June 30 Total units LINK TO TEXT VIDEO: SIMILAR PROBLEM Determine the equivalent units of production for materials and conversion costs Conversion Costs Materials Total equivalent units Compute the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Total Unit Cost Unit Costs $ $ $ LINK TO TEXT VIDEO: SIMILAR PROBLEM Determine the costs to be assigned to the units transferred and in process for June Transferred out $ Work in process, June 30 $ Prepare a production cost report for the Molding Department for the month of June. ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2017 Equivalent Units Physical Units Conversion Quantities Materials Costs Units to be accounted for Work in process, June 1 Started into production Total units Units accounted for Transferred out Work in process, June 30 Total units Conversion Materials Costs Costs Total Unit costs Total Costs $ $ $ Equivalent units Unit costs $ $ $ osts to be accounted for Work in process, June 1 Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, June 30 Materials Conversion costs Total costs