Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data-July T12-Tables Work in process units, July 1 Units started into production 23,400 Work in process units, July 31 3.510 Work in process percent complete 60 Cost Data-July Work in process, July 1 Materials Labor Overhead Total $0 444,600 274,248 121,680 $840.528 (a1) Compute the physical units of production. T12 Tables Units to be accounted for eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 10% score reduction after attempt 2 (22) Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 10% score reduction after attempt 2 (a3) Determine the unit costs of production. Materials Conversion Costs Total Costs Unit costs-T12 Tables $ $ eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 10% score reduction after attempt 2 (24) Show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out Work in process Materials Conversion costs Total costs $ eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score. 10% score reduction after attempt 2 Prawa the production contraport for July 2000 TIKIN INDUSTRIES INC. Cutting Department Plant Production Cast Rapert For the Month Ended July 21, 2020 Equivalent Units Coro Quand Materials Cos accounted for Wiki process, Started into production and for Transferred proces 31 Materials Coro Coro Total Cats Uncats Total Care Equivalent Unitate Castebe Started into production Cast Reconciliation Schedule Cats Trad , 21 Materiale Cowo
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