Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 28,820
Ending work in process units 2,620
Percent completeending inventory 40 %

Cost Data

Materials $259,380
Labor 70,216
Overhead 147,768
Total $477,364

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Accounting Finance And Auditing For Lawyers

Authors: Lawrence Cunningham

7th Edition

1634604105, 9781634604109

More Books

Students also viewed these Accounting questions

Question

BPR always involves automation. Group of answer choices True False

Answered: 1 week ago

Question

2. What role should job descriptions play in training at Apex?

Answered: 1 week ago