Rose Industries uses a process cost system and average costing. The following production data is for the month of June 20XX.

Production Costs

Work in process, beginning of month:

Materials.............................................................. $4,000

Labor.................................................................... 2,500

Factory overhead.................................................. 1,500 $8,000

Costs incurred during month:

Materials.............................................................. $55,000

Labor.................................................................... 20,000

Factory overhead.................................................. 45,000 120,000

Total............................................................... $128,000

Production Report

Units

In process, beginning of month...................................................... 3,000

Finished and transferred during month........................................... 24,000

In process, end of month................................................................ 4,000

Stage of completion for materials, labor, and overhead (ending)... 1/4

Stage of completion for materials, labor, and overhead (beginning) 1/3

Instructions: Complete the following cost of production summary for Rose Industries. Show computations in spaces provided and round unit costs to three decimal places.

Rose Industries

Cost of Production Summary

For the Month Ended June 30, 2012

Cost of work in process, beginning of month:

Materials.............................................................. $

Labor...................................................................

Factory overhead.................................................. ..................................................................... $

Cost of production for month:

Materials.............................................................. $

Labor...................................................................

Factory overhead..................................................

Total costs to be accounted for................................... ..................................................................... $

Unit output for month:

Finished during month..........................................

Equivalent units of work in process, end of month (_______________)

Total equivalent production................................

Unit cost for month:

Materials (____________________)...................... ..................................................................... $

Labor (____________________)...........................

Factory overhead (____________________)...........

Total................................................................ ..................................................................... $

Inventory costs:

Cost of goods finished during month (____________________)................................. ..................................................................... $

Cost of work in process, end of month:

Materials (____________________).................. $

Labor (____________________).......................

Factory overhead (____________________).......

Total production costs accounted for........................... ..................................................................... $

Manufacturing data for June in the Blending Department of Reeve Liquids, Inc. are below:

Material used.............................................. $30,000

Labor.......................................................... $25,200

Factory Overhead....................................... $17,400

Finished and transferred to Bottling Dept... 2,800

Work in process, end of month................... 500

Stage of completion................................... 3/4

All materials are added at the start of the process. Labor and factory overhead are added evenly throughout the process. No units were in process at the beginning of June. Goods finished in Blending are transferred to Bottling for further processing.

Required: Complete a cost of production report for Blending. (Round unit costs to three decimal places.) (15 pts)

Reeve Liquids, Inc.

Cost of Production SummaryBlending Dept.

For the Month Ended June 30, 2013

Cost of production for month:

Materials..................................................................................... $

Labor..........................................................................................

Factory overhead..........................................................................

Total costs to be accounted for.............................................................. $

Unit output for month:

Materials:

Finished and transferred to Bottling during month...................

Equivalent units of work in process, end of month

(_______ units, ________ completed, all materials)................

Total equivalent production.............................................

Labor and factory overhead:

Finished and transferred to Bottling during month................... Equivalent units of work in process, end of month

(________ units, _______ completed)....................................

Total equivalent production.............................................

Unit cost for month:

Materials ($________ ________)............................................... $

Labor ($________ _______).......................................................

Factory overhead ($_______ _______).......................................

Total.................................................................................... $__________

Inventory costs:

Cost of goods finished and transferred to Bottling

during month (_____ $_______)................................................ $

Cost of work in process, end of month:

Materials (______ $________)............................................ $

Labor (________ $_______)...............................................

Factory overhead (_______ $_______)................................

Total production costs accounted for..................................................... $