Production and cost data for the molding department

Rosenthal Company manufactures bowling balls through two process: 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 on cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead and incurred uniformly throughout each process. Production and cost data for the molding department during June 2017 are presented below:

Production Data                                                                               June

Beginning work in process units                                                      0

Units started into production                                                        22,000

Ending work in process units                                                          2,000

Percent complete – ending inventory                                             40%

Cost Data

Materials                $198,000

Labor                      $53,600

Overhead               $112,800

Total                        $364,400

 

Instructions

(A) Prepare a schedule showing physical units of production.

(B) Determine the equivalent units of production for materials and conversion costs.

(C) Compute the unit costs of production.

(D) Determine the costs to be assigned to the units transferred out and in process for June.

(E) Prepare a production cost report for the molding department for the month of June.

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