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    subeaner1 Posts: 2, Reputation: 1
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    #1

    Oct 23, 2010, 09:25 PM
    Managerial accounting problem
    Kasten 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 2008 are presented below.
    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

    Prepare a schedule showing physical units of production. (If answer is zero, please enter 0. Do not leave any fields blank.)
    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







    Compute the unit costs of production.
    Unit cost-Materials $

    Unit cost-Conversion costs $

    Total unit costs $







    Determine the costs to be assigned to the units transferred and in process for June.
    Costs accounted for
    Transferred out $

    Work in process, June 30
    Materials $

    Conversion costs


    Total costs $







    Prepare a production cost report for the Molding Department for the month of June. (If answer is zero, please enter 0. Do not leave any fields blank.)
    KASTEN COMPANY
    Molding Department
    Production Cost Report
    For The Month Ended June 30, 2008
    Equivalent Units
    Quantities Physical Units Materials Conversion Costs
    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




    Costs Materials Conversion Costs Total
    Unit costs
    Costs in June $
    $
    $

    Equivalent units


    Unit costs $
    $
    $


    Cost 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 $
    khemz's Avatar
    khemz Posts: 2, Reputation: 1
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    #2

    Feb 22, 2011, 01:34 AM
    Prepare a schedule showing physical units of production

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