Problem 16-3A (Part Level Submission) Cutting Department Production Data—July Pl
ID: 2391684 • Letter: P
Question
Problem 16-3A (Part Level Submission)
Cutting Department
Production Data—July
Plant 1
T12-Tables
Plant 2
C10-Chairs
Cost Data—July
(a1)
T12 Tables
C10 Chairs
Open Show Work
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
(a2)
Materials
Conversion Costs
Open Show Work
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
(a3)
Materials
Conversion Costs
Total Costs
Open Show Work
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
(a4)
T12 Tables
Costs accounted for:
Transferred out
Work in process
Materials
Conversion costs
Total costs
C10 Chairs
Costs accounted for:
Transferred out
Work in process
Materials
Conversion costs
Total costs
Open Show Work
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
(b)
THAKIN INDUSTRIES INC.
Cutting Department—Plant 1
Production Cost Report
For the Month Ended July 31, 2017
Equivalent Units
Quantities
Physical
Units
Materials
Conversion
Costs
Costs
Materials
Conversion
Costs
Total
Cost Reconciliation Schedule
Problem 16-3A (Part Level Submission)
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows.Cutting Department
Production Data—July
Plant 1
T12-Tables
Plant 2
C10-Chairs
Cost Data—July
Work in process, July 1 $0 $0 Materials 467,400 354,240 Labor 288,312 135,300 Overhead 127,920 128,904 Total $883,632 $618,444Explanation / Answer
Plant 1 T 12 tables
Plant 2 C10 CHairs
Beggining units 0 Transferred out 20,910 Started intro production 24600 Ending units 3,690 Units accounted for 24600 24600 Equivalent units Material Conversion cost Units transferred A 20910 20910 Ending Units 3,690 3,690 Completion 100% 60% B 3690 2214 Total units 24600 23124 Cost per equivalent units Particulars Material Conversion cost total As at beginning 0 0 0 Added during the month 467400 416232 883632 Cost to be accounted for 467400 416232 883632 Total eqivalent units 24600 23124 Cost per equivalent unit 19.00 18.00 37.00 Cost per equivalent unit = Cost to be accounted for / Total equivalent units