Swifty 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

29,480

Ending work in process units

2,680

Percent completeending inventory

40%

Cost Data

Materials

$265,320

Labor

71,824

Overhead

151,152

Total $488,296

1. Prepare a production cost report for the Molding Department for the month of June.

SWIFTY COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2020 Equivalent Units Physical Conversion Units Materials Costs Quantities 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 Costs Materials Total Costs Unit costs Total Costs Total Costs $ $ Equivalent units Unit costs $ Costs 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