Question

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

Crane Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethanPrepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 StaDetermine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalentDetermine the costs to be assigned to the units transferred out and in process for June. Transferred out $ Work in process, JPrepare a production cost report for the Molding Department for the month of June. CRANE COMPANY Molding Department ProductioConversion Costs Materials Total Costs Unit costs Total Costs $ $ $ $ Equivalent units Unit costs $ $ $ $ Costs to be account

Crane 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. June 0 Production Data Beginning work in process units Units started into production Ending work in process units Percent complete-ending inventory 22,220 2,020 40% Cost Data Materials $199,980 Labor 54,136 Overhead 113,928 Total $368,044
Prepare a schedule showing physical units of production. Physical units 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
Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs Total equivalent units e Textbook and Media Compute the unit costs of production. Materials Conversion Costs Total Unit Cost Unit Costs $ $ $
Determine the costs to be assigned to the units transferred out and in process for June. Transferred out $ Work in process, June 30 $
Prepare a production cost report for the Molding Department for the month of June. CRANE COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2020 Equivalent Units Conversion Materials Costs Physical Units 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
Conversion Costs Materials 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 $
0 0
Add a comment Improve this question
Answer #1
Physical Units
Units to account for:
Beginning Wip 0
Startd in Production 22220
total Units 22220
Units accounted for:
Transferred out 20200
Ending WIP 2020
Total Units 22220
Material Conv. Cost Total
Total Equivalent units 22220 21008
Unit cost 9 8 17
Cost of units transfrred out 343400
Cost of ending Wip 24644
PRODUCTION COST REPORT
Phy. Units Material Conv. Cost
Units to account for:
Beginning Wip 0
Startd in Production 22220
total Units 22220
Units accounted for:
Transferred out 20200 20200 20200
Ending WIP 2020 2020 808
Total Units 22220 22220 21008
Cost Material Conv. Cst Total
Total cost 199980 168064 368044
Equivlent units 22220 21008
Unit cost 9.00 8.00 17.00
Cost to be accounted for:
Cost of beginning WIP 0
Current cost incurred 368044
Total cst to be accounted for 368044
Cost Reconciliation Schedule:
Cost accounted for:
Transferred out (20200 units @17) 343400
Ending WIP
Material 18180
Conversion 6464 24644
Total cost accounted for 368044
Add a comment
Know the answer?
Add Answer to:
Crane Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the...

    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...

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

    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...

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

    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...

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

    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 2017 are presented below Producti Beginning...

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

    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...

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

    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...

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

    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...

  • Production Cost Report Sheridan Company manufactures bowling balls through two processes: Molding and Packaging. In the...

    Production Cost Report Sheridan 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...

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

    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...

  • Problem 21-2A a-e (Video) Swifty Company manufactures bowling balls through two processes: Molding and Packaging. In...

    Problem 21-2A a-e (Video) Swifty 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...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT