1. The XYZ Corp. manufactures pots, pans, and bowls from a joint process. May production is 4,000 pots, 7,000 pans, and 8,000 bowls. Respective per unit selling prices at split-off are $15, $10, $5. Joint costs up to the split-off point are $75,000. If joint costs are allocated based upon the sales (market) value at split-off, what amount of joint costs will be allocated to the pots?

(Must show calculations)

$____________

2. Molding Inc. manufactures plastic moldings for car seats. Its costing system uses two cost categories , direct materials and conversion costs. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production. Molding Inc. uses the WEIGHTED-AVERAGE PROCESS COSTING METHOD.

Work in process, beginning inventory, 40% complete 200 units

Units started during February 600 units

Work in process, ending inventory, 30% complete 100 units

What are the equivalent units of direct materials and conversion costs, respectively, at the end of February. (Must show calculations)

DM equivalent units:_________

CC equivalent units:__________

Problem #6 continued:

Cost data:

Work in process, beginning inventory: direct materials $ 100,000

Work in process, beginning inventory: conversion costs 100,000

Direct materials costs added during February 1,000,000

Conversion costs added during February 1,250,000

Complete the production report and answer the following questions:

What is the manufacturing cost per unit: $________________per unit

What is the amount of direct materials and conversion costs assigned to ending work in process?

$_____________materials

$_______________conver.costs