Question

Please answer using only the numbers provided in THIS question. Thanks.

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 22,660 Ending work in process units 2,060 Percent complete-ending inventory 40% Cost Data Materials $203,940 Labor 55,208 Overhead 116,184 Total $375,332

Answer 1

Solution

Transferred out	$       350,200.00
Work in process, June 30	$          25,132.00

Working

Reconciliation of Units
A	Opening WIP	-
B	Introduced	22,660
C=A+B	TOTAL	22,660
D	Transferred	20,600
E=C-D	Closing WIP	2,060

.

Statement of Equivalent Units(Weighted average)
				Material		Conversion cost
	Units			Complete %	Equivalent units	Complete %	Equivalent units
Transferred	20,600			100%	20,600	100%	20,600
Closing WIP	2,060			100%	2,060	40%	824
Total	22,660			Total	22,660	Total	21,424

.

Cost per Equivalent Units (Weighted average)
COST		Material	Conversion cost	TOTAL
Beginning WIP Inventory Cost				$ 0
Cost incurred during period		$ 203,940	$ 171,392	$ 375,332
Total Cost to be accounted for		$ 203,940	$ 171,392	$ 375,332
Total Equivalent Units		22,660	21,424
Cost per Equivalent Units		$                   9.00	$                     8.00

.

Statement of cost (Weighted average)
Cost	Equivalent Cost/unit	Ending WIP		Transferred
		Units	Cost Allocated	Units	Cost Allocated
Material	$ 9.00	2,060	$          18,540.00	20,600	$ 185,400
Conversion cost	$ 8.00	824	$             6,592.00	20,600	$        164,800.00
TOTAL	$ 375,332	TOTAL	$ 25,132	TOTAL	$ 350,200