1 answer

Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the...

Question:

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 25,080
Ending work in process units 2,280
Percent complete—ending inventory 40 %

Cost Data

Materials $225,720
Labor 61,104
Overhead 128,592
    Total $415,416

Determine the costs to be assigned to the units transferred out and in process for June.
Transferred out $

Work in process, June 30 $

ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2017 Equivalent Units Physical Conve

ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2017 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 Materials Conversion Costs Total Costs Unit 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 $

Answers

Solution

Molding Department
Production cost report
For the Month ended June 30,2017
Equivalent Units
Quantities Physical Units Material Conversion Costs
Units to be accounted for
Work in process, June 1 0
Started into Production 25080
Total Units 25080
Units Accounted for
Transferred Out 22800 22800 22800
Work in process June 30 2280 2280 912
Total Units 25080 25080 23712
Total
Material Conversion Costs
Unit Costs
Total Cost $      225,720.00 $    189,696.00 $ 415,416.00
Equivalent Units 25080 23712
Unit Costs $                   9.00 $                 8.00 $             17.00
Cost to be accounted for
Work in process, June 1 0
Started into Production $    415,416.00
Total Cost $    415,416.00
Cost Reconciliation
Costs accounted for
Transferred Out $    387,600.00
Work in process, June 30
Materials $        20,520.00
Conversion Costs $           7,296.00 $      27,816.00
Total Costs $    415,416.00
.

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