Question
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
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 2020 are presented below.
Production Data | June | ||
---|---|---|---|
Beginning work in process units | 0 | ||
Units started into production | 25,960 | ||
Ending work in process units | 2,360 | ||
Percent completeending inventory | 40 | % |
Cost Data | ||
---|---|---|
Materials | $233,640 | |
Labor | 63,248 | |
Overhead | 133,104 | |
Total | $429,992 |
(a)
Prepare a schedule showing physical units of production.
Physical units | ||
---|---|---|
Units to be accounted for | ||
Work in process, June 1 | enter a number of units | |
Started into production | enter a number of units | |
Total units | enter a total number of units | |
Units accounted for | ||
Transferred out | enter a number of units | |
Work in process, June 30 | enter a number of units | |
Total units | enter a total number of units |
eTextbook and Media
Save for Later
Attempts: 0 of 3 used
Submit Answer
Using multiple attempts will impact your score.
10% score reduction after attempt 2
(b)
Determine the equivalent units of production for materials and conversion costs.
Materials | Conversion Costs | |||
---|---|---|---|---|
Total equivalent units | enter a number of units | enter a number of units |
eTextbook and Media
Save for Later
Attempts: 0 of 3 used
Submit Answer
Using multiple attempts will impact your score.
10% score reduction after attempt 2
(c)
Compute the unit costs of production.
Materials | Conversion Costs | Total Unit Cost | ||||
---|---|---|---|---|---|---|
Unit Costs | $enter a dollar amount | $enter a dollar amount | $enter a total amount |
eTextbook and Media
Save for Later
Attempts: 0 of 3 used
Submit Answer
Using multiple attempts will impact your score.
10% score reduction after attempt 2
(d)
Determine the costs to be assigned to the units transferred out and in process for June.
Transferred out | $enter a dollar amount | |
---|---|---|
Work in process, June 30 | $enter a dollar amount |
eTextbook and Media
Save for Later
Attempts: 0 of 3 used
Submit Answer
Using multiple attempts will impact your score.
10% score reduction after attempt 2
(e)
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, 2020 | ||||||||
---|---|---|---|---|---|---|---|---|
Equivalent Units | ||||||||
Quantities | Physical Units | Materials | Conversion Costs | |||||
Units to be accounted for | ||||||||
Work in process, June 1 | enter a number of units | |||||||
Started into production | enter a number of units | |||||||
Total units | enter a total number of units | |||||||
Units accounted for | ||||||||
Transferred out | enter a number of units | enter a number of units | enter a number of units | |||||
Work in process, June 30 | enter a number of units | enter a number of units | enter a number of units | |||||
Total units | enter a total number of units | enter a total number of units | enter a total number of units | |||||
Costs | Materials | Conversion Costs | Total | |||||
Unit costs | ||||||||
Total Costs | $enter a dollar amount | $enter a dollar amount | $enter a total of the two previous amounts | |||||
Equivalent units | enter a number of units | enter a number of units | ||||||
Unit costs | $enter a dollar amount | $enter a dollar amount | $enter a total of the two previous amounts | |||||
Costs to be accounted for | ||||||||
Work in process, June 1 | $enter a total amount | |||||||
Started into production | enter a total amount | |||||||
Total costs | $enter a total of the two previous amounts | |||||||
Cost Reconciliation Schedule | ||||||||
Costs accounted for | ||||||||
Transferred out | $enter a total amount | |||||||
Work in process, June 30 | ||||||||
Materials | $enter a dollar amount | |||||||
Conversion costs | enter a dollar amount | enter a subtotal of the two previous amounts | ||||||
Total costs | $enter a total amount for this Cost Reconciliation Schedule |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started