Harrington Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane,
Question:
Production Data June
Beginning work in process units .......... –0–
Units started into production .......... 20,000
Ending work in process units .......... 2,000
Percent complete—ending inventory ....... 60%
Cost Data
Materials ................... $198,000
Labor ...................... 50,400
Overhead ................... 112,800
Total ..................... $361,200
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 and in process for June.
(e) Prepare a production cost report for the Molding Department for the month of June.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-0470477144
5th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted: