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The Polishing Department of Longbine Manufacturing Company has the following production and manufacturing cost data for June. Materials are entered at the beginning of the

The Polishing Department of Longbine Manufacturing Company has the following production and manufacturing cost data for June. Materials are entered at the beginning of the process (work in process equal to 100%)

Production: Beginning inventory 1,600 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 12,000; ending inventory of 3,000 units 10% complete as to conversion costs.

Manufacturing costs: Beginning inventory costs, comprised of $20,000 of materials and $43,180 of conversion costs; materials costs added in Polishing during the month, $167,680; labor and overhead applied in Polishing department during the month, $100,080 and $277,480 respectively.

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LONGBINE MANUFACTURING COMPANY Polishing Department Production Cost Report For the Month Ended June 30 QUANTITIES Physical Units Equivalent Units Materials Conversion Costs (a) (b) Units to be accounted for Work-in-process, June 1 (100% materials, 30% conversion costs) Started into production Total units Units accounted for Transferred out Work-in-process, June 30 (100% materials, 10% conversion costs) Total units (c) (c) (d) (h) (D 0) COSTS Units costs Materials Total Conversion Costs S420,740 Cost in June S187,680 5608,420 Equivalent units (k) (m) Unit costs S (1) + S() S (0) Cost to be accounted for Work-in-process, June 1 Started into production Total costs S (p) S (a) S (1) Cost Reconciliation Table Cost accounted for Transferred out Work-in-process, June 30 Materials Conversion costs (s) (u) iv) Total costs $(w)

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